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What Is Bounded Rationality? How Is It Related to Decision

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What is bounded rationality? How is it related to decision making?


Definitions:

Personal Life

Aspects of an individual's life that are primarily personal, such as family, friendship, hobbies, and interests, outside of professional or public duties.

Productivity

The effectiveness of productive effort, especially in industry, measured in terms of the rate of output per unit of input.

Promoted

The action of elevating an employee to a higher position or rank within an organization, usually accompanied by increased responsibilities and pay.

Engagement Level

The degree of enthusiasm and dedication an individual exhibits towards their job or a specific task.

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