Satisficing in strategic environments: a theoretical approach and experimental evidence
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.
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- Siegfried Berninghaus & Werner Güth & M. Vittoria Levati & Jianying Qiu, 2006.
"Satisficing in sales competition: experimental evidence,"
Papers on Strategic Interaction
2006-32, Max Planck Institute of Economics, Strategic Interaction Group.
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- Werner Güth & M. Vittoria Levatia & Matteo Ploner, 2008. "Satisficing and prior-free optimality in price competition: a theoretical and experimental analysis," Jena Economic Research Papers 2008-067, Friedrich-Schiller-University Jena. Full references (including those not matched with items on IDEAS)
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