According to the foundations of economic theory, agents have stable and coherent "global" preferences that guide their choices among alternatives. However, people are constrained by information-processing and memory limitations and hence have a propensity to avoid cognitive load. We propose that this in turn will encourage them to respond to "local" preferences and goals influenced by context and memory representations.
Kusev, P., & van Schaik, P. (2013). The Cognitive Economy: The Probabilistic Turn in Psychology and Human Cognition. Behavioral and Brain Sciences, 36(3), 294-295. https://doi.org/10.1017/S0140525X12003019