Which of the following statements is true regarding decision making process? Escalation of commitment incorporates cognitive biases and occurs when a decision maker faces increasingly negative outcomes from a decision yet continues the behavior instead of altering the course. Fundamental biases can be completely avoided when humans make decisions. Satisficing occurs when the decision maker uses the first acceptable alternative they encounter, rather than conducting an extensive evaluation of all alternatives. According to bounded rationality, decision makers have the ability and resources to process all available information and alternatives to make an optimal decision