Abstract:

The aim of this paper is the explanation how the consumers’ limited time influences their decision – for purposes of this paper, the explanation is made by means of theoretical models, using modelling as a method of scientific abstraction. The difference between full and bounded rationality is also explained and in connection with the flow of the available time, this paper focused on techniques of decision-making and on the level of reached rationality (within the meaning of the quantity of relevant pieces of information). Models as an output from this paper are drawn on the basis of the pertinent literature sources and authors’ own point of view.