- A-Z
- Jena Economic Resea...
- Volume 2
- Satisficing in stra...
Satisficing in strategic environments: a theoretical approach and experimental evidence
- Autor(in)
- Erschienen
- 16. Oktober 2008
- Nummer des Discussion-Papers
-
2008-078
- Schlagwort(e)
-
Bounded rationality
Satisficing behavior
Strategic interaction
- Zusammenfsg.
-
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.
- 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