« previous next »

Author Question: What is the difference between the normative model of decision making and the descriptive model? ... (Read 105 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
on: Jul 7, 2018
What is the difference between the normative model of decision making and the descriptive model? Which model is primarily used by managers? Explain.
 
  What will be an ideal response?

Question 2

What does the central bank do in order to accommodate a nation's economic growth?
 
  A) regulate foreign direct investment
  B) increase the nation's money supply
  C) decrease the nation's money supply
  D) establish national currency rates


medine

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 7, 2018
Answer to Question 1

The normative model suggests that managers apply logic and rationality in making the best decisions, while the descriptive model argues that there are limits to a manager's ability to make a logical and rational decision. The normative model is what managers should do while the descriptive model is what managers actually do. The descriptive model recognizes that we suffer from bounded rationality and consequently might satisfice in decision making rather than optimize.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Ebrown

  • Hero Member
  • *****
  • Posts: 567
Reply #2 on: Jul 7, 2018
TY


medine

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jul 7, 2018
Happy to Help


« previous next »
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

A hypothetical model of the process of cell-wall expansion. A hypothetical model of the process of cell-wall expansion.
Osteon model labeled Osteon model labeled
A Simple Neural Model of Classical Conditioning A Simple Neural Model of Classical Conditioning
Priming Affects the Speed of Respones on a Lexical Decision Task Priming Affects the Speed of Respones on a Lexical Decision Task
A multistep model for colon cancer. The first mutation, in the APC gene, leads to the formation of p A multistep model for colon cancer. The first mutation, in the APC gene, leads to the formation of p
A three-gene additive model for wheat kernel color A three-gene additive model for wheat kernel color
Video: ribosome

For a complete list of videos, visit our video library