Asked by Dellvon Koolkid on May 23, 2024
Verified
In the_____,an individual or team stops searching for alternatives as soon as an acceptable goal or solution is discovered.
A) bounded rationality model
B) balancing interests principles
C) equitable outcome principles
D) situational-effect model
Bounded Rationality Model
A model that suggests that individuals make decisions based on a limited amount of information and through a simplification of complex problems, constrained by their cognitive limitations.
Equitable Outcome
A result or conclusion of a process that is deemed fair and just, ensuring equal treatment and opportunities for all involved parties.
Alternatives
Different options or strategies available for achieving a desired outcome or solving a problem.
- Gain insight into the concept of satisficing and its function in the decision-making process under bounded rationality.
Verified Answer
Learning Objectives
- Gain insight into the concept of satisficing and its function in the decision-making process under bounded rationality.
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