|Start Page Number:||279|
|End Page Number:||308|
|Publication Date:||Aug 2016|
|Journal:||Theory and Decision|
|Authors:||Felin Teppo, Stirling Wynn C|
|Keywords:||decision theory, social|
Satisficing is a central concept in both individual and social multiagent decision making. In this paper we first extend the notion of satisficing by formally modeling the tradeoff between costs (the need to conserve resources) and decision failure. Second, we extend this notion of ‘neo’‐satisficing into the context of social or multiagent decision making and interaction, and model the social conditioning of preferences in a satisficing framework.