📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      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 that an 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.

      Practice Next
      More Introduction of Decision Making Questions

      Relevant for Exams:

      ask-question