Question

Decision making that is limited by one's ability to process information is called _____________. A. bounded rationality B. commitment C. controlling D. intuitive

Answer 1

Answer:

Decision making that is limited by one's ability to process information is called A. Bounded Rationality

Explanation:

The Bounded Rationality concept was first developed by the cognitive psychologist Herbert Simon and it holds that decision making is limited by one's ability to process information (or thinking capacity), the uncertainty about the future and the lack of available information in the present, and therefore, we make decisions by "satisficing", that is to say, by considering our available options and choosing one that might not be optimal but that meets our aspiration level.