Satisficing, preferences, and social interaction: a new perspective

Wynn C. Stirling, Teppo Felin
2015 Theory and Decision  
Satisficing is a central concept in both individual and social multiagent 1 decision making. In this paper we first extend the notion of satisficing by formally 2 modeling the tradeoff between costs (the need to conserve resources) and decision 3 failure. Second, we extend this notion of "neo"-satisficing into the context of social 4 or multiagent decision making and interaction, and model the social conditioning of 5 preferences in a satisficing framework. 6
doi:10.1007/s11238-015-9531-y fatcat:vvnub7enubdvrkasu6m47ligti