Please explain bounded rationality using the Iranian Hostage Crisis.

Solutions

Expert Solution

Solution

Bounded rationality is the idea that rationality is limited when individuals make decisions by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision. Decision-makers, in this view, act as satisficers, seeking a satisfactory solution rather than an optimal one.

To illustrate how a bounded rationality, indicator‐based, model designed to examine decision making in war applies to domestic political decisions, I analyze the timing of President Jimmy Carter's April 1980 decision to launch the Iranian hostage rescue. I argue that we can capture the primary domestic political forces that triggered this foreign policy shift by analyzing the rate of change of critical indicators monitored by a key group of presidential advisors.

This analysis allows us to construct a powerful, ex ante, model of decision making that accurately predicts the timing of Carter's decision to launch the hostage rescue. The proposed model is a more effective explanation of Carter's decision than other general explanations, and can be applied to other decision making situations.

ekkarill92 answered 1 month ago

Next > < Previous

Related Solutions

Please explain bounded rationality in a paragraph.

Briefly summarize Simon’s principle of bounded rationality as it applies to satisficing.

QUESTION 16 A basic assumption of the bounded rationality model of decision making is ____. A....

QUESTION 16 A basic assumption of the bounded rationality model of decision making is ____. A. decision alternatives can be completely evaluated in terms of their potential value B. decision alternatives can be objectively rank ordered in terms of appropriateness C. preferences for alternatives seldom change as new information is acquired D. people do not evaluate all possible decision alternatives 2 points QUESTION 17 Transformational leaders are likely to ____. A. have a relatively high tolerance for mistakes made...

Bounded rationality is understood is the sense of cognitive limitations, as opposed to exotic tastes or...

Bounded rationality is understood is the sense of cognitive limitations, as opposed to exotic tastes or erroneous beliefs. Briefly describe a real-world economic situation pervaded by problems of bounded rationality. Explain what behavior you observe that suggests agents are not fully informed or rational, and why you believe bounded rationality is a likely explanation.

Bounded Rationality and Satisficing: Decision makers examine a relatively narrow range of options and choose the...

Bounded Rationality and Satisficing: Decision makers examine a relatively narrow range of options and choose the best solution within the limitation on time and resources, it seeks the best, not optimal solution. Advantage of this: it recognizes the limitation placed on decision makers. Disadvantage: This model still assumes a consensus can be reached on goals and objectives How do you think decision making in the real world of health care reflects, or differs from this model?

Herbert A. Simon (1916-2001) introduced the concept of “bounded rationality” to the study of decision making...

Herbert A. Simon (1916-2001) introduced the concept of “bounded rationality” to the study of decision making in public administration. He held that decision makers in public organizations were “intendedly rational,” but operated within a recognizable set of constraints. His argument generated decades of discussion and debate, initiating searches for systematic methods of decision-making and a theoretical model of problem solving in public administration. Critically discuss the main arguments for Simon’s concept of bounded rationality, and the major constraints that affect...

Question