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The following descriptions illustrate several mistakes that decision makers might have made as they were deciding how to rebuild Greensburg. With regard to the decision
The following descriptions illustrate several mistakes that decision makers might have made as they were deciding how to rebuild Greensburg. With regard to the decision to go green, which of the following fictional scenarios would be the best representation of bounded rationality?
One of Greensburg's primary attractions was the Big Well, which, at feet deep, was the world's largest handdug well. The Big Well museum was ruined in the tornado. The city council received bids to rebuild the museum from contractors all over the world. In an effort to save time, they chose the first bid that came in under budget without looking at the other bids.
Lonnie McCollum, the mayor of Greensburg, returned to reassume his position but was not reelected because he left the office without building a coalition.
Greensburg followed the Leadership in Energy and Environmental Design LEED platinum standards in determining how to make its buildings most energy efficient, not realizing that the energy standards created by Green Globes were equally efficient but faster and less expensive to implement.
As time went on Greensburg started to lose residents because of the high taxes associated with creating green city buildings. The Greensburg town council voted to continue building green because the town had already spent so much time and money on the effort.
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