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Himanshu Sharma
on Nov 29, 2024

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The rational model of decision making assumes that:

A) the decision maker has an inconsistent system of preferences.
B) there are limits on how rational a decision maker can be.
C) decision makers make decisions by rules of thumb.
D) the decision maker can calculate the probability of success for each alternative.

Rational Model

A decision-making model based on logical and objective analysis of alternatives, aiming for the most optimal solution.

Inconsistent System

A framework or structure within which processes and practices frequently change, leading to confusion or inefficiency.

Probability of Success

The probability of success refers to the chance or likelihood of achieving a desired outcome or fulfilling a goal.

  • Acknowledge the foundational assumptions behind the models of rational and bounded rationality in decision making.
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Suhelen ArgeñalNov 29, 2024
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