Herbert Simon won the Nobel Prize in economics for his work in describing ________
A) how people spend money
B) how most people are perfectly rational
C) how people make decisions
D) how people avoid decisions
Answer: C
Explanation: Rather than study how people spend money, Simon studied how people made decisions. He found that people were limited in their ability to use logic and were not perfectly rational in their decision making. Simon did not investigate how people avoid decisions.
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