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 Assessment
  • Award: 1 Certificate
Write your awesome label here.
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.
Empty space, drag to resize
  • Decision-Making
  • Critical Thinking
  • Bounded Rationality
  • Leadership

Your Instructor

Taught by a practitioner. Moderated by the same.
PROFESSOR OF APPLIED FINANCE
Prof. Sean Foley is a finance executive and adviser with more than 25 years of experience across public companies, global financial institutions and professional services firms. As founder and CEO of AltFi Services Group, he supports businesses through accounting, treasury management and fractional CFO services. His leadership experience includes financial reporting, governance, audit, regulatory oversight and public-company readiness. He brings MMI participants a practical perspective on interpreting financial information, strengthening financial judgment, and communicating credible management decisions.