منابع مشابه
A Satisficing Choice Model
While the assumption of utility-maximizing consumers has been challenged for decades, empirical applications of alternative choice rules are still very recent. We add to this growing body of literature by proposing a model based on Simon’s idea of a “satisficing” decision maker. In contrast to previous models (including recent models implementing alternative choice rules), satisficing depends o...
متن کاملMaximizing versus satisficing: happiness is a matter of choice.
Can people feel worse off as the options they face increase? The present studies suggest that some people--maximizers--can. Study 1 reported a Maximization Scale, which measures individual differences in desire to maximize. Seven samples revealed negative correlations between maximization and happiness, optimism, self-esteem, and life satisfaction, and positive correlations between maximization...
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This paper presents new data on entrepreneurs’ self-described decision processes 5 when choosing where to locate, based on scripted interviews with 49 well-placed business 6 owners and senior managers in charge of location choice. Consideration sets are surprisingly 7 small, especially among those who are successful. According to entrepreneurs’ own accounts, 8 locations are frequently discovere...
متن کاملChoice by sequential procedures
We propose a rule of decision-making, the sequential procedure guided by routes, and show that three influential boundedly rational choice models can be equivalently understood as special cases of this rule. In addition, the sequential procedure guided by routes is instrumental in showing that the three models are intimately related. We show that choice with a status-quo bias is a refinement of...
متن کاملFoundations of Boundedly Rational Choice and Satisficing Decisions
Formally, the orthodox rational agent’s “Olympian” choices, as Simon has called orthodox rational choice, are made in a static framework. However, a formalization of consistent choice, underpinned by computability, suggests by, satisficing in a boundedly rational framework is not only more general than the model of “Olympian” rationality, it is also consistently dynamic. This kind of naturally ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1609615