According to Herbert Simon,people do not always live up to ideal goals of rationality in making decisions.Rather,they tend to use simple strategies which only focus on a few facets of the available options.What is this behavioural economic theory called

A)  theory of bounded rationality 
B)  framing 
C)  theory of reference 
D)  functional fixedness

Bounded Rationality

A concept suggesting that decision-making is limited by the information available, cognitive limitations of the mind, and the finite amount of time available to make a decision.

Herbert Simon

An American economist and cognitive psychologist known for his research in the fields of decision-making and problem-solving, notably the concept of bounded rationality.

Behavioural Economic Theory

An approach combining psychological insights with economic theory to predict and understand human decision-making.