Organizational Behavior Problem Solving Quiz
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Questions and Answers

What is the main idea behind Simon's Bounded Rationality Approach?

  • People make decisions based on a set of heuristics rather than being fully rational (correct)
  • People have unlimited mental resources for decision-making
  • People should rely on in-depth analysis for every decision
  • People are always rational in their decision-making process

    • What does 'heuristics' refer to in decision making?

  • A method that guarantees 100% accurate decisions
  • A technique that requires extensive cognitive processing
  • A systematic approach to problem-solving
  • A mental shortcut for judgment and decision making (correct)

    • How does the text describe the accuracy of heuristics in decision making?

  • Heuristics are generally adaptive but not 100% accurate (correct)
  • Heuristics are mainly used by lazy individuals
  • Heuristics are always 100% accurate
  • Heuristics are never accurate

    • 'Coin-parison by coin counting heuristics' is an example of:

    <p>An example of bounded rationality</p> Signup and view all the answers

    What assumption does the text make about people in cognitive processing?

    <p>People are generally lazy in cognitive processing</p> Signup and view all the answers

    What is the main reason people rely on heuristics according to the text?

    <p>Because people have limited cognitive resources</p> Signup and view all the answers

    In relation to decision-making, what is the significance of 'bounded rationality'?

    <p>'Bounded rationality' suggests that people's decisions are constrained by time and resources</p> Signup and view all the answers

    Which Nobel Prize winner's work focused on the impacts of heuristics and biases in decision-making?

    <p>Daniel Kahneman</p> Signup and view all the answers

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