BUMGT5980 – Managerial Decision Making Assessment Task 4 – Decision Making Application Due date: Week 12 (or on the date advised by the course teacher) Word limit: 1,500 words excluding reference list and appendices Weighting/Value: 30% “The capacity of the human mind for formulating and solving complex problems is very small compared with the size of the problems whose solution is required for objectively rational behavior in the real world—or even for a reasonable approximation to such objective rationality” (Simon, 1957, p. 198). In reference to Simon’s quote, provide a critical examination of three discrete concepts (covered in this course) that may explain bias in decisions. This essay provides a theoretical treatment (critical examination) of each concept and should follow essay format. Students should consult the general guides for marking essays – links plus the ‘General Guide to Writing and Study Skills’ available on the course websit
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