| Question 20 5 pt In their critique of \"rational man\" economic theory, March

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| Question 20 5 pt In their critique of "rational man" economic theory, March and Simon argue that much of human behavior can be explained by the desire to "satisfice. What does the term "satisfice" mean in this context? O All individuals at some level rely on the artistic side of their personality-their love of artifice when developing a satisfactory solution to a problem. O Becoming a clear and unbiased thinker allows one to understand the universal reason, which is the first step taking control of one's life. All individuals strive for the greatest pleasure and the least amount of pain. O Given the fact that individuals have limited information and restricted ability to process what is available, they often choose the very first option that seems good enough when making a decision

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Question 20

In their critique of 'rational man' economic theory. March and Simon argue that much of human behaviour can be explained by the Desire of satisfice what does the term satisfice mean in this context?

Given the fact that individuals have limited information and restricted ability to process what is available, they often choose the very first option that seems good enough when making a decision.

Explanation- it directly refers to aspiration levels when choosing from multiple paths of action. People usually select the first option they see rather than selecting the optimal option.

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