Search and Satisficing.

Caplin, A., & Dean, M. (2011). Search and Satisficing. American Economic Review, 101(7), 2899-2922.

Type

Journal article

Intellectual base

Primary research

Year

2011

Volume

101

Issue

7

Pages

2899-2922

DOI registrant

American Economic Association

Link

https://doi.org/10.1257/aer.101.7.2899matched

Cited from

behavioral_economics

Cited by

1 citation across 1 artifact.

Each citation links to the sentence it supports in the citing article.

Primes

• Satisficing
  • - Environment-procedure fit — the performance of satisficing (measured as average outcome quality, search cost, or combined welfare) depends fundamentally on the distribution of option quality in the environment

    This sourceModern empirical and theoretical validation; satisficing in lab experiments with human subjects. Shows that subjects do set aspiration levels and satisfice; validates the structural components of satisficing theory in controlled settings. Also addresses multi-criterion aggregation.*

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