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Question

________ decision theory is concerned with how people actually make decision.

A Declarative models Correct Answer Incorrect Answer
B Normative models Correct Answer Incorrect Answer
C Descriptive models Correct Answer Incorrect Answer
D Prescriptive models Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

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.

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