Question

The notion that decision-makers simply do not have the ability or resources to process all available information and alternative to make an optimal decision refers to: A. management by exception B. communities of practice C. bounded rationality D. projection bias

Answer 1

C) Bounded Rationality.

Step-by-step explanation:

By definition bounded rationality is the practical limit that states that any individual or any decision making entity may not have at one point all the available information to make perfect decision. Humans as such are generally limited by the amount of time they have and the ability to process and make use of information free of cognitive biases.

Hope that helps.