Satisficing in strategic environments: a theoretical approach and experimental evidence
- 2008-10-16
- Ключевое-, Ключевые слово(а)
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Bounded rationality
Satisficing behavior
Strategic interaction
- Итог
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The satisficing approach is generalized and applied to finite n-person games. Based on direct elicitation of aspirations, we formally define the concept of satisficing, which does not exclude (prior-free) optimality but includes it as a border case. We also review some experiments on strategic games illustrating and partly supporting our theoretical approach.
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2008-078
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- article research fields JER
- economics
- JEL-Classification for JER
- C72 - Noncooperative Games ; C92 - Laboratory, Group Behavior ; D01 - Microeconomic Behavior: Underlying Principles
