Final answer:
A nonrational decision-making model assumes that man (option A)agers do not possess complete information, acknowledging that real-world conditions involve complexities and limitations that often prevent fully rational decisions.
Step-by-step explanation:
One of the assumptions underlying nonrational models of decision making is (option A). Managers do not possess complete information. Nonrational decision-making models recognize that decision-makers might lack the time and resources needed to make a fully informed, rational choice, due to limitations of information, complexity of environment, and cognitive constraints.
Traditional economic models often assume rationality, suggesting that people collect all available information to make consistent, informed decisions in their own best interest. However, this ideal is at odds with the reality that individuals and organizations often lack the necessary data, the capacity to process it, or the ability to foresee all potential outcomes, leading to decisions that may appear irrational or suboptimal.
Consequently, nonrational decision-making frameworks have been developed to better reflect the messy ways in which humans and organizations actually make choices, incorporating the inherent complexity of real-world scenarios and acknowledging information gaps and uncertainties.