Which phrase best describes the term "bounded rationality"? thinking a problem through clearly before acting the result of departmentalized decision making taking care not to exhaust limited resources limits imposed on decision making by costs, time, and technology the use of extremely structured steps in the decision-making process

Question

Social Studies

Nathalie Henderson

28 March, 01:53

Which phrase best describes the term "bounded rationality"? thinking a problem through clearly before acting the result of departmentalized decision making taking care not to exhaust limited resources limits imposed on decision making by costs, time, and technology the use of extremely structured steps in the decision-making process

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Answers (1)

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Ishaan Orozco · Answer 1

limits imposed on decision making by costs, time, and technology.

Explanation:

The theory of limited rationality was proposed by Herbert Simon. Declares that our capacity for judgment is imperfect and limited it is impossible to determine all possible solutions and their consequences, so it is not always possible to make the best decision since other factors affect: costs, time, and technology.