Rational Decision Making Model PDF

Rational Decision Making Model Your Name: 1. What is the first step in the rational decision-making model? A. Weigh the decision criteria B. Identify the problem C. Generate alternatives D. Evaluate the decision 2. Which criterion is considered most important in the process of decisio...

Rational Decision Making Model Your Name: 1. What is the first step in the rational decision-making model? A. Weigh the decision criteria B. Identify the problem C. Generate alternatives D. Evaluate the decision 2. Which criterion is considered most important in the process of decision-making according to the rational decision-making model? A. Safety B. Generating alternatives C. Mileage D. Price 3. In the context of bounded rationality, which of the following statements is true? A. The outcome will be completely rational. B. The decision maker knows all alternatives available. C. The decision maker uses a consistent system of preferences. D. The decision maker can calculate the probability of success for each alternative. 4. When considering which car to buy, which of the following criteria would likely be the least prioritized based on typical decision-making models? A. Number of passengers B. Mileage C. Aesthetic appeal D. Safety features 5. What step follows the evaluation of alternatives in the rational decision-making process? A. Generate alternatives B. Establish the decision-making criteria C. Weigh the decision criteria D. Implement the decision 6. What does bounded rationality suggest about decision makers? A. They are limited by the information they have. B. They can always act in a perfectly rational way. C. They evaluate every potential alternative fully. D. They prioritize optimal solutions over satisfactory ones. 7. Which option best describes 'satisficing' in decision making? A. Choosing the most time-consuming alternative. B. Picking the first acceptable option rather than the best. C. Continuously searching for the optimal solution. D. Making decisions based solely on emotional responses. 8. According to bounded rationality, what is a likely behavior of decision makers? A. They analyze every detail before making a decision. B. They rely completely on intuition for decision making. C. They often disregard information that conflicts with their beliefs. D. They will always consider all potential consequences. 9. What is one of the key components of Herbert Simon's model of decision making? A. Limited information processing abilities. B. Consistent reliance on historical data. C. The ability to predict all outcomes accurately. D. A step-by-step optimization process. 10. Which statement about decision-making rules is true? A. They guarantee optimal outcomes every time. B. They can be appropriate and effective in complex scenarios. C. People may follow them even when they are inappropriate. D. They are always well-suited for every situation. 11. What is a common characteristic of how people perceive their decision-making process? A. They always seek external validation for their choices. B. They view their understanding of the world as overly complex. C. They believe they need to analyze every alternative. D. They consider their perception of the world to be simple. 12. In decision making, people often rationalize their choices. What does this mean? A. They justify their choices to align with their beliefs. B. They deny their decisions ever affect outcomes. C. They analyze every decision without bias. D. They seek to optimize every selection they make. 13. What is a limitation of the rational decision-making model according to bounded rationality? A. It neglects the influence of emotions on decisions. B. It ignores the impact of past outcomes on current decisions. C. It presumes decisions are made with complete knowledge and certainty. D. It assumes individuals have infinite time for decision-making.