People sometimes try to limit the options they have available.This
A)is consistent with rational economic behavior.
B)can be explained by behavioral economic analysis
C)explains why demand curves are sometimes vertical
D)violates the assumption of transitive preferences
E)occurs when income and substitution effects cancel out.

Question

Quizplus · Accepted Answer

Behavioral economic analysis suggests that people often experience decision fatigue or cognitive overload when faced with too many options, leading them to limit their choices as a way to simplify the decision-making process. This phenomenon is sometimes referred to as choice overload.

People Sometimes Try to Limit the Options They Have Available