Help with a communication question

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  • Describe if you could have been using what we call bounded rationality and how?
Nov 29th, 2015

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Concept that decision makers (irrespective of their level of intelligence) have to work under three unavoidable constraints: (1) only limited, often unreliable, information is available regarding possible alternatives and their consequences, (2) human mind has only limited capacity to evaluate and process the information that is available, and (3) only a limited amount of time is available to make a decision. Therefore even individuals who intend to make rational choices are bound to make satisficing (rather than maximizing or optimizing) choices in complex situations

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Nov 29th, 2015

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Nov 29th, 2015
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Nov 29th, 2015
Oct 22nd, 2017
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