Bounded rationality means that
A) intelligence cannot exceed a certain value.
B) there are limits on people's ability to think rationally.
C) emotions interfere with reasoning.
D) deliberate, careful thought is too difficult for almost everyone.
E) None of the above

Question

Quizplus · Accepted Answer

Bounded rationality refers to the concept that in decision-making, the rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.

Bounded Rationality Means That