Question: summarise the following: Classical Decision - Making Model Characteristics: Rationality: Assumes decision - makers are rational and will make logical , value - maximizing choices
summarise the following: Classical DecisionMaking Model
Characteristics:
Rationality: Assumes decisionmakers are rational and will make logical valuemaximizing choices within given constraints.
Comprehensive Information: Requires comprehensive information and a thorough analysis of all possible alternatives and outcomes.
Clear Objectives: Assumes clear objectives and preferences, allowing for the ranking of alternatives to choose the best possible option.
Optimal Decision: Aims to achieve the optimal solution through systematic evaluation and comparison of alternatives.
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