Satisficing in strategic environments: A theoretical approach and experimental evidence
The satisficing approach is generalized and applied to finite n-person games. We formally define the concept of satisficing and propose a theory that allows satisficing players to make "optimal" decisions without being equipped with any prior. We also review some experiments on strategic games illustrating and partly supporting our theoretical approach.
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Volume (Year): 39 (2010)
Issue (Month): 5 (October)
Pages: 554-561
| Handle: | RePEc:eee:soceco:v:39:y:2010:i:5:p:554-561 |
| Contact details of provider: | Web page: http://www.elsevier.com/locate/inca/620175
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Satisficing in sales competition: experimental evidence,"
Working Papers
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- Werner Güth & Hartmut Kliemt, 2004. "Bounded Rationality and Theory Absorption," Homo Oeconomicus, Institute of SocioEconomics, vol. 21, pages 521-541.
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