Question Number: 80

BOUNDED RATIONALITY Actions for Bounded RationalityExplain what Bounded Rationality is.Then discuss how this concept can affect the decision situation in SLP 3.Also discuss how this concept can affect the data analysis in Case 3.Explain your logic for both of your arguments. Are there any similarities between these two situations?Week 1: Provide your initial discussion post to the question. Be sure to include references to any resources you used. You should use at least one resource to help you with your initial discussion.Week 2: Respond to at least two of your classmates’ initial posts. Your response should be substantive and further the discussion. It is OK to be critical and use critical thinking. That means you can question what your classmates say. Do they provide their own critical thinking and logic?