With his first paycheck, Steve decides to buy a car. After spending hours researching the many specifications
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With his first paycheck, Steve decides to buy a car. After spending hours researching the many specifications each car has—from gas mileage to horsepower—he decides to give up trying to find the perfect car based on these metrics and buys the best-looking one on the first lot he visits. Explain one aspect of bounded rationality discussed in the text that this example exhibits.
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