Question: Decision makers construct simplified models that extract the essential features from problems without necessarily capturing all their complexity. That is , they operate within the

Decision makers construct simplified models that extract the essential features from problems without necessarily capturing all their complexity. That is

,

they operate within the confines of

common sense

intuitive decision making

human nature

bounded rationality

optimal decision making

Decision makers construct simplified models that extract the essential features from problems without necessarily capturing all their complexity. That is

,

they operate within the confines of

common sense

intuitive decision making

human nature

bounded rationality

optimal decision making

Decision makers construct simplified models that extract the essential features from

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