« previous next »

Author Question: Briefly, discuss the assumptions of rationality and the validity of those assumptions. What will ... (Read 198 times)

abarnes

  • Hero Member
  • *****
  • Posts: 556
on: Jul 7, 2018
Briefly, discuss the assumptions of rationality and the validity of those assumptions.
 
  What will be an ideal response?

Question 2

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.
 
  Indicate whether the statement is true or false.


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jul 7, 2018
Answer to Question 1

Answer: A decision maker who is perfectly rational is fully objective and logical. The problem faced is clear and unambiguous. The decision maker has a clear and specific goal. He is aware of all possible alternatives and consequences. Making decisions consistently leads to selecting the alternative that maximizes the likelihood of achieving that goal.
These assumptions apply to any decision  personal or managerial. For managerial decision making, an additional assumption is that decisions are made in the best interests of the organization. However, most of these assumptions of rationality are not very realistic.

Answer to Question 2

Answer: FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

The patient and his family meet with the nurse to discuss progress on the patient care plan. The patient and his family meet with the nurse to discuss progress on the patient care plan.
wild discuss fish wild discuss fish
A medical assistant listening to the patient and physician discuss the patient's care. A medical assistant listening to the patient and physician discuss the patient's care.
Background Assumptions and Deeply Ingrained Assumptions Background Assumptions and Deeply Ingrained Assumptions
Like other aspects of culture, religion is filled with background assumptions that usually go ... Like other aspects of culture, religion is filled with background assumptions that usually go ...
Cradle the head briefly in both hands to end this section. Hold for a few seconds until you can feel ... Cradle the head briefly in both hands to end this section. Hold for a few seconds until you can feel ...
Video: Factors that influence muscle tension - Sarcomere length and force, understretched and overstretched

For a complete list of videos, visit our video library