Asked by Aishah Khalea on May 18, 2024
Verified
Which of the following describes decision making with complete information?
A) classical decision model
B) satisficing decision
C) bounded rationality
D) behavioural decision model
E) cognitive limitation
Classical Decision Model
A theory suggesting decision-making is a rational process, where choices are made logically and with full information.
Complete Information
A situation where all participants have access to all relevant information needed to make informed decisions without any hidden or missing data.
- Absorb the principles of classical and behavioral strategies in decision-making.
Verified Answer
OH
Olivia HouseyMay 20, 2024
Final Answer :
A
Explanation :
The classical decision model assumes that decision makers have complete information and can make optimal decisions based on rational analysis.
Learning Objectives
- Absorb the principles of classical and behavioral strategies in decision-making.
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