Satisficing choice procedures
MetadataShow full item record
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.
Papi , M 2012 , ' Satisficing choice procedures ' , Journal of Economic Behavior and Organization , vol. 84 , no. 1 , pp. 451-462 . https://doi.org/10.1016/j.jebo.2012.04.017
Journal of Economic Behavior and Organization
This is an author version of this article. The published version (c) 2012 Elsevier B.V. is available from http://www.sciencedirect.com
Description"Financial support from the Scottish Institute for Economic Research is gratefully acknowledged."
Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.