Satisficing: Integrating Two Traditions
نویسندگان
چکیده
In 1955, Herbert Simon introduced the notion of satisficing: an agent satisfices by searching for alternative that meets aspiration level but does not optimize. We survey more than 60 years advances in understanding satisficing economics, psychology, and management, identifying two research traditions address classes situations: under risk, is typically inferior to optimization strategies modeled according neoclassical framework; uncertainty, are often derived empirically can be highly effective. integrate show conditions which rational. (JEL D11, D80, D90)
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ژورنال
عنوان ژورنال: Journal of Economic Literature
سال: 2022
ISSN: ['2328-8175', '0022-0515', '1547-1101']
DOI: https://doi.org/10.1257/jel.20201396