The-definition.com

Definition

Bounded rationality

Bounded rationality is a decision making that’s rational but limited (bounded) by an individual’s ability to process information.

Share it:  Cite

More from this Section

  • Philosophy of management
    Philosophy of management is a manager’s attitude about work and the people who perform ...
  • Need for achievement
    Need for achievement (nAch) which is the drive to succeed and excel in relation to a set ...
  • Directional plans
    Directional plans are flexible plans that set out general guidelines. They provide focus ...
  • Territorial structure
    An organization structure in which units are divided on the basis of territory or geographical ...
  • National culture
    National culture is the values and attitudes shared by individuals from a specific country ...