Compare the Rational Decision-Making and the Bounded Rationality Model

question 121

Essay

Compare the rational decision-making and the bounded rationality model.

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Definitions:

Adaptive Capacity

The ability of individuals or systems to adjust and cope with changes or challenges in their environment.

Cognitive Dissonance

Psychological discomfort experienced when attitudes and behavior are inconsistent.

Unfreezing

The initial phase in the change process where old habits or structures are dismantled to accept new ways of thinking.

Social Psychologist

A specialist who studies how individual behavior and mental processes are influenced by social interactions and societal factors.