Toby is hunting for a new apartment.He is specifically looking for one that is located in the heart of the city and should be available for $600 per month.However, Toby is also willing to pay up to $850 per month for a place that is situated slighted away from the city center.According to him, the second option "will also do." This is an example of ________.
A) rational decision making
B) bounded rationality
C) intuitive decision making
D) non linear thinking

Question

Quizplus · Accepted Answer

This is an example of bounded rationality as Toby has defined certain criteria for his apartment search (location and price range) but is willing to compromise on one of those criteria if necessary (location).

Toby Is Hunting for a New Apartment