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Test 1
Chapter 3
9
Management
Undergraduate 3
01/25/2012

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Term
rational
Definition
having or exercising the ability to reason; of a sound mind; sane, manifesting or based on reason; logical
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
Definition
Parts of a closed model
Term
satisficing
Definition
means finding a satisfactory, rather than optimum, course of action
Term
level of aspiration
Definition
his of her desire to achieve
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
Definition
an optimal alternative
Term
1. the set of criteria describes minimally satisfactory alternatives
2. the alternative in question meets or exceeds all these criteria
Definition
a satisfactory alternative
Term
cognitive strain
Definition
bounded rationality stems from this psychological phenomenon.
Term
rational behavior
Definition
does not preclude the presence of emotion or passion on the part of the decision maker
Term
non-rational behavior
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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