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Satisficing, preferences, and social interaction: a new perspective

Abstract:
Satisficing is a central concept in both individual and social multiagent decision making. In this paper we first extend the notion of satisficing by formally modeling the tradeoff between costs (the need to conserve resources) and decision failure. Second, we extend this notion of “neo”-satisficing into the context of social or multiagent decision making and interaction, and model the social conditioning of preferences in a satisficing framework.
Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1007/s11238-015-9531-y

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Institution:
University of Oxford
Division:
SSD
Department:
Said Business School
Role:
Author
Publisher:
Springer Verlag
Journal:
Theory and Decision More from this journal
Volume:
81
Issue:
2
Pages:
279-308
Publication date:
2015-12-24
Acceptance date:
2015-12-08
DOI:
EISSN:
1573-7187
ISSN:
0040-5833
Keywords:
Pubs id:
pubs:580166
UUID:
uuid:6cf1d725-ec18-40ae-9e4c-24439c5c0dfd
Local pid:
pubs:580166
Source identifiers:
580166
Deposit date:
2015-12-18

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