Is Satisficing Absorbable? - An Experimental Study
We experimentally investigate whether the satisficing approach is absorbable, i.e., whether it still applies after participants become aware of it. In a setting where an investor decides between a riskless bond and either one or two risky assets, we familiarize participants with the satisficing calculus applied to specific portfolio selection tasks. After experiencing this calculus repeatedly, participants are free to use it or to select their portfolio freely. The results support, to some extent, the absorbability of the satisficing approach.
|Date of creation:||Jul 2006|
|Date of revision:|
|Contact details of provider:|| Postal: Kahlaische Strasse 10, D-07745 Jena|
Phone: +49-3641-68 65
Fax: +49-3641-68 69 90
Web page: http://www.econ.mpg.de/
More information through EDIRC
|Order Information:|| Web: http://www.econ.mpg.de/english/research/ESI/discuss.php Email: |
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.:
- Gerlinde Fellner & Werner Güth & Boris Maciejovsky, 2005. "Satisficing in Financial Decision Making A Theoretical and Experimental Attempt to Explore Bounded Rationality," Papers on Strategic Interaction 2005-23, Max Planck Institute of Economics, Strategic Interaction Group.
- Tietz, Reinhard, 1992. "Semi-normative theories based on bounded rationality," Journal of Economic Psychology, Elsevier, vol. 13(2), pages 297-314, June.
- Werner Güth & Hartmut Kliemt, 2004.
"Bounded Rationality and Theory Absorption,"
Papers on Strategic Interaction
2004-27, Max Planck Institute of Economics, Strategic Interaction Group.
- Egidi, Massimo & Narduzzo, Alessandro, 1997.
"The emergence of path-dependent behaviors in cooperative contexts,"
International Journal of Industrial Organization,
Elsevier, vol. 15(6), pages 677-709, October.
- Alessandro Narduzzo & Massimo Egidi, 1996. "The emergence of path-dependent behaviors in cooperative contexts," CEEL Working Papers 9604, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
- Selten, Reinhard, 1998.
"Features of experimentally observed bounded rationality,"
European Economic Review,
Elsevier, vol. 42(3-5), pages 413-436, May.
- Selten, Reinhard, . "Features of Experimentally Observed Bounded Rationality," Discussion Paper Serie B 421, University of Bonn, Germany, revised Nov 1997.
When requesting a correction, please mention this item's handle: RePEc:esi:discus:2006-10. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karin Richter)
If references are entirely missing, you can add them using this form.