What is meant by the Representativeness Heuristic? Give an example of a decision scenario where you might fall victim to this heuristic. What about the situation makes this likely?

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Answer these two questions:

1. Compare and contrast the Rationale Decision Making Model and the Bounded Rationality Model (also called the Normative Model). How are they different? Which one is more realistic for organizational decision­ making and why?

2. What is meant by the Representativeness Heuristic? Give an example of a decision scenario where you might fall victim to this heuristic. What about the situation makes this likely?

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