Management Finance - Part 1

According to Herbert Simon, administrative decision-making is constrained primarily by:

Type: MCQ • Marks: 1
According to Herbert Simon, administrative decision-making is constrained primarily by:
Options
A. Unlimited information
B. Perfect rationality
C. Bounded rationality
D. Complete certainty
Explanation
Decision-makers face limitations of information, time, cognitive capacity and computational ability. Therefore, they often satisfice rather than optimise.
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UPSC Principal & Vice Principal Management Finance Administration

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