Identify which principle applies to each scenario by placing the appropriate label next to each scenario. After spending hours researching his choices, Mark decides on a laptop that will cost him $799. As he walks into his local retailer, a salesman presents him a laptop with marginally better features at the same price. However, Mark would have to do further research to verify that the new alternative is in fact better. As a result, he decides the laptop he previously decided on is good enough and buys it.
Charlotte delivers food for Bojangles, a fried chicken restaurant. Upon delivering a meal to a household during a major icestorm, the family, feeling sorry about Charlotte working in extreme weather, decides to give her a $20 tip for a $10 delivery
Cathy is a very good driver. In fact, she's never gotten into an accident in her life. However, every year she still takes out a car insurance policy.

Bounded rationality is the theory that, given certain constraints, rational decision-making is constrained, leading rational people to choose a satisfactory course of action rather than the best one.

Limitations include the complexity of the decision-making problem, the mind's cognitive ability, and the amount of time available. According to this theory, decision-makers act as satisficers, seeking a satisfactory answer with what they currently have available rather than an ideal one. Humans therefore do not do a thorough cost-benefit analysis to decide the best course of action, instead opting for a solution that satisfies their adequacy requirements. An illustration of this is when employees in organizations are required to follow business policies; this might lead to constrained rationality because the organization is unable to select the best course of action.

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