Satisficing, preferences, and social interaction: a new perspective

Stirling, Wynn and Felin, Teppo (2016) Satisficing, preferences, and social interaction: a new perspective. Theory and Decision. pp. 1-30.

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Satisficing is a central concept in both individual and social multiagent 2 decision making. In this paper we first extend the notion of satisficing by formally 3 modeling the tradeoff between costs (the need to conserve resources) and decision 4 failure. Second, we extend this notion of “neo”-satisficing into the context of social 5 or multiagent decision making and interaction, and model the social conditioning of 6 preferences in a satisficing framework.

Item Type: Article
Keywords: Strategy; Entrepreneurship & Global business, Game theory, Satisficing, Conditional preferences, Multiple agents, strategy & innovation
Subject(s): Strategy; Entrepreneurship & Global business
Date Deposited: 18 Dec 2015 15:34
Date of author-version deposit: 18 December 2015
Last Modified: 02 Feb 2018 14:47
Funders: N/A

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