Bounded rationality suggests that
A) individuals might make "incorrect" decisions because they are unable to consider all possible options.
B) individuals would rather have less choice to more choice.
C) rational decisions can only be made when choices are restricted.
D) individuals are happier when their choices are restricted or "bounded."

Question

Quizplus · Accepted Answer

Bounded rationality suggests that due to cognitive and informational limitations, individuals are unable to consider all possible options when making decisions, which can result in decision-making that may be "incorrect" from an objective standpoint.

Bounded Rationality Suggests That