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    Question

    As per Herbet Simon’s bounded rationality theory,

    the decision made is ______ in nature.
    A Satisfying Correct Answer Incorrect Answer
    B Sufficient Correct Answer Incorrect Answer
    C Optimal Correct Answer Incorrect Answer
    D Satisficing Correct Answer Incorrect Answer
    E Familiar Correct Answer Incorrect Answer

    Solution

    According to Simon, because of bounded rationality, the decision made is ‘satisficing’ in nature i.e. they only satisfy and suffice but not maximise. Thus, a decision maker is looking for a satisfactory solution for a problem in the given situation and the constraints and not for the ideal solution as that may lead to an endless search.

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