Based on the paragraph below, do you believe that humans have insufficient capacity to process the information they need for making the best decisions?

Bounded rationalityis the idea that when individuals make decisions, theirrationalityis limited by the tractability of the decision problem, their cognitive limitations and the time available. Decision-makers in this view act assatisficers, seeking a satisfactory solution rather than an optimal one.Herbert A. Simonproposed bounded rationality as an alternative basis for the mathematical modeling ofdecision-making. It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available.Simon used the analogy of a pair of scissors, where one blade represents human cognitive limitations and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.

Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes fromCass SunsteinandRichard Thaler'sNudge.Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of less healthy option. Some critics ofNudgehave lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers.