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    Question

    ________ decision theory is concerned with how people

    actually make decision.
    A Declarative models Correct Answer Incorrect Answer
    B Normative models Correct Answer Incorrect Answer
    C Descriptive models Correct Answer Incorrect Answer
    D Prescriptive models Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Normative models suggest how people should make decisions while descriptive models describe how people actually make decisions . Descriptive models introduce the concept of satisficing.

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