Practice question · Multiple choice
A hiring manager interviews candidates until one clears the bar of "clearly capable," then stops searching. Simon would say she is…
Hints
- What does continuing the search cost?
- Good enough, found fast, can beat perfect, found late.
Show the answer
A. Satisficing, since search itself costs
Why
Satisficing is bounded rationality’s signature move. With costly search and an open position bleeding productivity, "first candidate above the bar" can dominate an exhaustive tournament, the rational model quietly assumes search is free.
Practise Decision Making
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More questions on Decision Making
- When is intuition a _reliable_ decision input?
- Simon called stopping at the first acceptable option satisficing and treated it as intelligent rather than…
- In the rational model, a decision should account for money already spent so that past investment is not…
- Order the steps of the rational decision model.
- Option A pays 100 with probability 0.5, else 0. Option B pays 40 for sure. Compute the difference EVA - EVB.
- Match each decision model to its signature.