According to the administrative theory of individual decision making, people do not have the ability to...
According to the administrative theory of individual decision making, people do not have the ability to process all of the information and solutions that face them, which leads them to limit their problems and solutions. This is known as:
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satisficing. |
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uncertainty. |
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bounded rationality. |
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devil's advocacy. |
Homework Answers
Answer: Bounded rationality. - According to the administrative theory of individual decision making, people do not have the ability to process all of the information and solutions that face them, which leads them to limit their problems and solutions. This is known as “bounded rationality”.
Intricate circumstances, restricted time, and insufficient mental computation power makes decision maker to the “bounded rationality” state. This recognizes the limitations of the decision making processes. As per the “bounded rationality model” , individuals knowingly control their alternatives to a convenient set and select the first acceptable options with no further search for alternatives.
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