This is "bounded rationality" [1], where people make the best decisions possible given computational constraints on how they make decisions. A lot of interestin

This is "bounded rationality" [1], where people make the best decisions possible given computational constraints on how they make decisions. A lot of interesting work tries to derive human cognitive biases from this idea. [1] https://en.wikipedia.org/wiki/Bounded_rationality https://en.wikipedia.org/wiki/Bounded_rationality