Herbert Simon's theory of bounded rationality asserts that people's reliance on simple decision-making strategies often results in suboptimal decisions.

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Deniz Toprak · Accepted Answer

Final Answer : True, Explanation :  Herbert Simon's theory of bounded rationality indeed suggests that due to limitations in time, information, and cognitive abilities, people tend to rely on simple decision-making strategies that may not always lead to optimal decisions.

Herbert Simon's theory of bounded rationality asserts that people's reliance on simple decision-making strategies often results in suboptimal decisions.

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