Satisficing.
One version of bounded rationality is the principle of satisficing. This approach to decision making involves choosing the first alternative that satisfies minimal standards of acceptability without exploring all possibilities. This is the usual approach taken by decision makers (Nielsen, 2011). Simon (1997) expresses it this way: “Most human decision making, whether individual or organizational, is concerned with the discovery and selection of satisfactory alternatives; only in exceptional cases is it concerned with the discovery and selection of optimal alternatives.” (pp. 140-141)