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2. What is bounded rationality? a. Gathering all necessary information before making a decision. b. People only make choices that gives non-negative utility. c. Limits
2. What is "bounded rationality"?
a. Gathering all necessary information before making a decision.
b. People only make choices that gives non-negative utility.
c. Limits on information, time, and abilities might prevent people from seeking out the best possible outcome.
d. Human beings are often restricted/forced to make only rational decisions.
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