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Definition
| having or exercising the ability to reason; of a sound mind; sane, manifesting or based on reason; logical |
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Term
1. A fixed or unchanging objective
2. A known set of relevant alternatives with corresponding outsomes
3. An established rule or set of relationships that produces a preference ordering of alternatives
4. The maximization of some sought end such as profits, income, physical goods, or some form of itility
5. General disregard of environmental constraints |
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Term
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Definition
| means finding a satisfactory, rather than optimum, course of action |
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Term
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Definition
| his of her desire to achieve |
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Term
1. there exists a set of criteria that permits all alternatives to be compared
2. the alternative in question is preferred by the criteria to all other alternatives |
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Definition
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Term
1. the set of criteria describes minimally satisfactory alternatives
2. the alternative in question meets or exceeds all these criteria |
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| a satisfactory alternative |
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Term
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Definition
| bounded rationality stems from this psychological phenomenon. |
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Definition
| does not preclude the presence of emotion or passion on the part of the decision maker |
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Term
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Definition
| means failing to act in accordance with one's best estimate of the comparative consequences attendant upon a set of alternate actions |
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