It is assumed that a perfectly rational decision maker
a. does not follow rational assumptions
b. does not consider value maximizing as an objective
c. offers inconsistent decisions
d. would be objective and logical
Managers can make rational decisions if ÂÂÂÂÂÂÂÂÂÂÂÂÂÂÂ_________________.
a. the problem is ambiguous
b. the goals are unclear
c. the alternatives are limited
d. time constraints exist
Which of the following is not a valid assumption
The problem is clear and unambiguous.
A single, well-defined goal is to be achieved.
Preferences are clear.
Preferences are constantly changing.
4. When managers circumvent the rational decision-making
model and find ways to satisfice, they are following the concept of
b. bounded rationality
c. least-squared exemptions
d. self-motivated decisions
Because managers canâ€™t possibly analyze all information
on all alternatives, managers ______________, rather than ______________.
The type of decision making in which the solution is
considered â€œgood enoughâ€ is known as _________________.
When a decision maker chooses an alternative under
perfect rationality, she ______________ her decision, whereas under bounded
rationality she chooses a ______________ decision.
An increased commitment to a previous decision despite
evidence that it may have been wrong is referred to as _______________.
economies of commitment
escalation of commitment
expansion of commitment
Intuitive decision making is _______________.
a. not utilized in organizations
b. a conscious process based on accumulated judgment
c. making decisions based on experience, feelings, and
d. important in supporting escalation of commitment
studying intuitive decision making, researchers have found that
a. managers do not make decisions based on feelings or
b. managers use data from their subconscious mind to help
make their decisions
c. rational thinking always works better than intuitive
d. accumulated experience does not support intuitive
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