New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Bounded Rationality is also referred to as

    ___________
    A Intuitive Model Correct Answer Incorrect Answer
    B Prospect model Correct Answer Incorrect Answer
    C Normative model Correct Answer Incorrect Answer
    D Behavior alternative model Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The theory of bounded rationality holds thatan individual's rationality is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision. It is also referred to as the behaviour alternative model.

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