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Start learning 50% faster. Sign in nowBounded rationalityis based onthreemain limitations that result in sub-optimal decision making: 1. Cognitive Limitations, 2. Imperfect Information, and 3. Time Constraints Cognitive limitation refers to our inability as humans to process information in an optimal manner.
The average of 16 numbers is 82. The average of the first 8 numbers is 90, while the average of the last 9 numbers is 75. If the 8th number is removed, ...