Question

This question pertains to the rational decision-making model. In answering the questions below use examples to highlight your arguments. Make sure that your external research is properly cited (APA)

Analyze the rational actor paradigm model and the influence of human behavior on rational decision making (bounded rationality, the role of incentives).

What analytical methodology (or methodologies) is recommended for selecting amongst alternative decisions choices so that a decision be made based on a rational foundation.

How does the recommended methodology eliminate the impact of the sunk cost fallacy?