A heuristic is an example of the nonrational model of decision making.

Question

BlackTom AI · Accepted Answer

The question asks to classify whether a heuristic falls under the nonrational model of decision making.
Option 1: True. Heuristics are simple, rule-of-thumb strategies that people use to make quick judgments. They rely on mental shortcuts rather than systematic, exhaustive analysis, which aligns with nonrational or descriptive accounts of decision making (e.g., bounded rationality, intuition). This makes the statement consistent with the idea that heuristics operate outside strict rational-analytic processes.
Option 2: False. If one were to claim this is false, one would be asserting that heuristics are part of rational models or that they are not nonrational. However, by definition, heuristics reduce cognitive effort and do not guarantee optimal outcomes, which characterizes nonrational or boundedly rational processes rather than perfect rationality. This option misunderstands the role of heuristics in decision theory.
In summary, heuristics embody nonrational or boundedly rational approaches by simplifying complex decisions, which supports the truth of the statement.

33:620:302:01 MANAGEMENT SKILLS Final Exam

A heuristic is an example of the nonrational model of decision making.

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