5. BOUNDED RATIONALITY
Human decision-making is limited by available information, available time, and
the information-processing ability of the mind.
Maximizers: optimal decision
Satisficers: "good enough"
http://www.pri.org/science/science-behind-making-decisions1407.html
An optimal decision is a decision such that no other available decision options will lead to a better outcome.
take longer making decisions due to the need to maximize performance across all variables and make tradeoffs carefully