Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. question 19 0.2 pts rational choice decisions ofte

Question 19 0.2 pts Rational choice decisions often involve complex calculations of data to produce...

60.1K

Verified Solution

Question

Finance

image
Question 19 0.2 pts Rational choice decisions often involve complex calculations of data to produce a formula that points to the best choice. Basically, this formula determines the best alternative by calculating the probability that various outcomes will occur from the choices and the expected satisfaction (valences) from each of those outcomes. The rational choice model of decision making is impossible to apply in reality because: it assumes that human beings make decisions based on their emotions. it ignores the fact that problems must be defined before alternatives are chosen. it ignores the fact that people evaluate their decision after an alternative has been chosen and implemented. it assumes that people are efficient and logical information processing machines. it assumes that people are inefficient and make decisions without rational thought

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students