________ captures the quandary we face as humans when we have choices to make,but are limited by our own cognitive capacity.

Question

Quizplus · Accepted Answer

Bounded rationality refers to the fact that humans have limited cognitive capacity to process and analyze information when making decisions. This often leads to suboptimal decision-making, as we may rely on heuristics or biases instead of fully analyzing all available information. This captures the quandary we face when making choices, as we are limited by our own cognitive abilities. The other options listed (A, B, C, and E) all refer to different psychological concepts, but do not fully capture this specific issue of limited cognitive capacity when making decisions.

________ Captures the Quandary We Face as Humans When We