10 Questions
What is the process of identifying and choosing from alternative solutions that lead to a desired state of affairs?
Rational Decision-Making Model
Which model involves decision makers being restricted by a variety of constraints when making decisions?
Bounded Rationality
What is 'good enough' to meet the minimum standards?
Satisficing
What refers to judgment, insights, or decisions that come to mind without explicit awareness of the evoking cues and without explicit evaluation of the validity of those cues?
Intuition
Which subconscious application of learning is influenced by expertise?
Automated Experience
What refers to the subconscious integration of information in memory for intuitive judgment?
Holistic Hunch
Which type of knowledge is gained by experience but is difficult to articulate?
Tacit Knowledge
What type of decision-making bias involves selective information gathering to confirm a pre-made decision?
Confirmation Bias
What model assumes optimization and explains how people should make decisions?
Rational Decision-Making Model
What term describes decision makers being restricted by various constraints such as time, energy, and resources when making decisions?
Bounded Rationality
Test your knowledge of decision-making models with this quiz. Explore the rational decision-making model, non-rational models, and the process of identifying and choosing alternative solutions. See how well you understand concepts like optimization and bounded rationality.
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