Lu H.-C.Chen M.-S.Chang J.-J.2019-07-222019-07-22200500405833https://scholars.lib.ntu.edu.tw/handle/123456789/414460While the traditional economic wisdom believes that an individual will become better off by being given a larger opportunity set to choose from, in this paper we question this belief and build a formal theoretical model that introduces decision costs into the rational decision process. We show, under some reasonable conditions, that a larger feasible set may actually lower an individual's level of satisfaction. This provides a solid economic underpinning for the Simon prediction. ? Springer 2005.Bounded rationalityConsidered subsetDecision cost[SDGs]SDG16journal article10.1007/s11238-005-5063-12-s2.0-27244448981https://www.scopus.com/inward/record.uri?eid=2-s2.0-27244448981&doi=10.1007%2fs11238-005-5063-1&partnerID=40&md5=46d160682a52b8ca4af5e206ba9301a6