The bounded rationality model assumes that managers _____ because the costs of optimizing in terms of time and effort are too great.

A) satisfice
B) rationalize
C) examine facts and details
D) reject heuristics

Satisfice

To select the first alternative that is “good enough,” because the costs in time and effort are too great to optimize.

Bounded Rationality

A concept suggesting that individuals make decisions based on the limited information available to them and within the constraints of their cognitive capacity.

Optimizing

The process of making something as effective, perfect, or functional as possible, often by choosing the best option from a set of alternatives.