Güth, Werner Levati, Maria Vittoria Ploner, Matteo
Year of Publication:
Jena Economic Research Papers 2008,078
The satisficing approach is generalized and applied to finite n-person games. Based on direct elicitation of aspirations, we formally define the concept of satisficing, which does not exclude (prior-free) optimality but includes it as a border case. We also review some experiments on strategic games illustrating and partly supporting our theoretical approach.