Identify an assumption of the bounded rationality model of decision making.

A) Managers make decisions by rules of thumb, or heuristics.
B) Managers are aware of all the possible alternatives.
C) Managers recognize that their conception of the world is complex.
D) Managers choose the best alternative after thorough analysis.

Bounded Rationality

A theory that suggests that there are limits to how rational a decision maker can actually be.

Heuristics

Shortcuts in decision making that save mental activity.

Decision Making

The cognitive process of selecting a course of action from multiple alternatives, typically aimed at achieving a specific goal or solving a problem.