Explain one aspect of bounded rationality

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Question: 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.

Reference no: EM132179255

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