True of bounded rationality

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1. Which of the following is true of bounded rationality?

a. It suggests that decision makers base their decisions on logic with conscious consideration.

b. It suggests that decision makers make decisions after attaining complete information and knowledge.

c. It suggests that decision makers are limited by their values and unconscious reflexes, skills, and habits.

d. It suggests that decision makers need to form an informal alliance of individuals to achieve a common goal.

2. Selena fractures the radial bone in her forearm. Her surgeon advises her to undergo a surgery in which a steel plate would be inserted to support the bone. He explains to her that after the surgery there would be only a 70 percent chance of regaining complete movement in the arm and a 30 percent chance of completely losing arm functionality. Selena decides to proceed with the surgery. In this scenario, Selena’s decision making process is an example of _____.

a. decision making under a state of security

b. decision making under a state of certainty

c. decision making under a state of risk

d. decision making under a state of uncertainty

Reference no: EM131711750

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