Making Better Decisions with Limited Information: Bounded Rationality

Focus on making decisions effectively even when complete information isn't available, using Herbert Simon's concept of bounded rationality.
  • Author: Prof. Foley

  • Level: Foundational
  • Study Mode: Self-paced
  • Recommended Period: 1 Week
  • Estimated Learning Time: ~ 6 Hours
  • Proficiency: 1 Graded Assessments
  • Award: 1 Certificate
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To ensure the best continuity in your learning, we recommend completing the course within the recommended completion period. The course is self-paced, so you can adapt your learning schedule around work and other commitments.
Course overview
Making Better Decisions with Limited Information is a one-week micro-course focused on Herbert Simon's concept of bounded rationality. It emphasizes a practical skill: how to make good decisions when you can't know everything, evaluate all options, or wait for certainty. In the first lesson, you select a real decision—such as choosing a vendor, hiring, or making a commitment before a deadline—and apply this throughout the six lessons. You'll learn to recognize your limits, set a satisfactory level for 'good enough,' assess decisions based on the quality of their process rather than an unreachable optimal, and use situational heuristics. By week’s end, you'll have a well-justified decision process you can confidently implement and stand behind.
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  • Decision-Making
  • Critical Thinking
  • Bounded Rationality
  • Leadership

Your Instructor

Taught by a practitioner. Moderated by the same.
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Prof. Foley is the founder and CEO of AltFi Services Group, providing accounting, payroll, treasury management, and fractional CFO services to growth-stage and established businesses.

He also spent time at Ernst & Young LLP and Deloitte LLP in audit and consulting, advising on reporting, controls, governance, and operational improvements. Concurrent with AltFi, he served for two years as a Director of EnviroGold Global Limited. Throughout his career, Prof. Foley has maintained a strong, continuous interest in developing and promoting personal financial literacy. He has actively built financial education initiatives and literature to make complex financial concepts more accessible and practical for individuals, entrepreneurs, and non-financial professionals.
Prof. Foley holds a BBA from the University of Regina (1997) and is a retired, non-practicing CPA.

He brings 25+ years of experience in senior roles across public and private companies, including global financial institutions and professional services firms. He is Vice-Chair and Chair of TelyRx's Audit Committee, overseeing financial reporting, internal controls, audit processes, and public-company readiness. Previously, he was CFO and a Board member of MUFG Investor Services, managing financial reporting, governance, regulatory oversight, and cross-jurisdictional operations.