Bounded rationality explains why an individual's decision-making is rational within the bounds of information available from his/her
Question:
Bounded rationality explains why an individual's decision-making is rational within the bounds of information available from his/her position in the system. According to Meadows, what can help to get us beyond the limitations of bounded rationality? Taking the individual out of that position and putting someone else in it. O Excusing the behavior of anyone who makes rational decisions based on the information they have at the time. Knowing that people make series of informed decisions that add up to the best possible outcomes for everyone else. Stepping outside of the information in that one position, getting an overview of the larger system, and redesigning the system to improve the information.
Auditing Cases An Interactive Learning Approach
ISBN: 978-0132423502
4th Edition
Authors: Steven M Glover, Douglas F Prawitt