General Studies · Decision Making
The concept of 'bounded rationality' in decision-making is founded on the fact that an individual's:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1tendency is to accord undue weightage to information received first
- 2reasoning powers and cognitive capacities are limited✓
- 3response to the environment of decision is always optimal
- 4ability to comprehend the vastness and complexity of the decision territory is unlimited
Correct answer
reasoning powers and cognitive capacities are limited
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