Question

Bounded rationality states that: check all that apply rationality requires a complete knowledge and anticipation of the consequences that follow each choice. rationality requires a choice among all possible alternative behaviors. imagination must supply the lack of experienced feeling in attaching value to them.

Answer 1

Bounded rationality refers to the fact that individuals ability to make a decision would be bounded by the information that they have and also the amount of time that they have to assess the information and conclude the best possible action.

so, The correct choices are:

- Rationality requires a complete and anticipation of the consequences that follow each choice ,
- imagination must supply the lack of experienced feeling in attaching value to them,
- rationality requires a choice among all possible alternative behaviors.