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| Title: | Satisficing choice procedures |
| Authors: | Papi, Mauro |
| Keywords: | Bounded rationality
Consideration set
Revealed preference
Satisficing
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HB Economic Theory |
| Issue Date: | Sep-2012 |
| Citation: | Papi , M 2012 , ' Satisficing choice procedures ' Journal of Economic Behavior and Organization , vol 84 , no. 1 , pp. 451-462 . |
| Abstract: | Standard choice theory assumes that the budget set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibit `satisficing' attitudes. We axiomatically characterize our model and investigate behavioral definitions of satisfaction, attention, and preference under various choice domains. Moreover, we relate our framework to several well-known existing models. |
| Version: | Postprint |
| Status: | Peer reviewed |
| URI: | http://hdl.handle.net/10023/2595 |
| DOI: | http://dx.doi.org/10.1016/j.jebo.2012.04.017 |
| ISSN: | 0167-2681 |
| Type: | Journal article |
| Rights: | This is an author version of this article. The published version (c) 2012 Elsevier B.V. is available from http://www.sciencedirect.com |
| Appears in Collections: | University of St Andrews Research
Economics & Finance Research
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