Bounded Rationality Advocates

Multiple Choice

Bounded rationality advocates:

A) pick the alternative that minimizes value.
B) evaluate all alternatives simultaneously.
C) use accurate information to evaluate alternatives.
D) develop an exhaustive list of alternatives to consider as solutions.
E) choose the first acceptable alternativE.Bounded rationality is the notion that decision makers simply do not have the ability or resources to process all available information and alternatives to make an optimal decision.Bounded rationality says that we are likely to pick the first acceptable alternative.