Question

Examine the rational policy-making model.

25 Aug 2021
Answer :
Word Count : 829

A rational policy making model decision is said to exhibit bounded rationality when they consider fewer options than are actually available, or when they choose an option that is not "the best overall" but is best within the current circumstances. E.g., someone spills coffee on a shirt in a restaurant, and goes next door and buys a poorly fitting shirt to change into immediately.

Obviously it would be optimal to buy a proper fitting shirt. But if the person is in a hurry and cannot wear a wet, coffee stained shirt, then buying the poorly fitting one is appropriate. This is called satisficing.

room-Jago decision model

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