Question
Which of the following decision theory is concerned with
how people actually make decision?Solution
Normative models suggest how people should make decisions while descriptive models describe how people actually make decisions. Descriptive models introduce the concept of satisficing.
What is the first step in the decision-making process?
Which bias in management involves the tendency to prioritize information that confirms pre-existing beliefs?
After a below normal monsoon season, the farmers suffered loss in the actual harvest for the year. The government released relief package for the farmer...
The synectics technique of problem solving that focuses on innovative and creative ideas to arrive at a consensus solution, was given by _____
The bounded rationality model can be used in the following situations except when __________
Which of the following style of decision-making focuses on long term?
Bounded Rationality is also referred to as ___________
Decision making is ____________
Why is it crucial to clearly define the problem in decision-making?
Rational decision making is relies on _______
Relevant for Exams:
