Search and Satisficing

被引：185

作者：

Caplin, Andrew ^{[1
,2
]}

Dean, Mark ^{[3
]}

Martin, Daniel ^{[1
,2
]}

机构：

[1] NYU, Ctr Expt Social Sci, New York, NY 10012 USA

[2] NYU, Dept Econ, New York, NY 10012 USA

[3] Brown Univ, Dept Econ, Providence, RI 02912 USA

来源：

AMERICAN ECONOMIC REVIEW | 2011年 / 101卷 / 07期

关键词：

CHOICE; INFORMATION; PREFERENCE; ECONOMICS; UTILITY; MODEL;

D O I：

10.1257/aer.101.7.2899

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Many everyday decisions are made without full examination of all available options, and, as a result, the best available option may be missed. We develop a search-theoretic choice experiment to study the impact of incomplete consideration on the quality of choices. We find that many decisions can be understood using the satisficing model of Herbert Simon (1955): most subjects search sequentially, stopping when a "satisficing" level of reservation utility is realized. We find that reservation utilities and search order respond systematically to changes in the decision making environment.

引用

页码：2899 / 2922

页数：24

共 24 条

[1]

[Anonymous], 2008, FDN POSITIVE NORMATI

[2]

Bernheim B.Douglas., 2008, The Foundations of Positive and Normative Economics, DOI DOI 10.1037/A0019486

[3] MODELS OF STOCHASTIC CHOICE AND DECISION THEORIES: WHY BOTH ARE IMPORTANT FOR ANALYZING DECISIONS [J].

Blavatskyy, Pavlo R. ;

Pogrebna, Ganna .

JOURNAL OF APPLIED ECONOMETRICS, 2010, 25 (06) :963-986

[4] THE POWER OF NONPARAMETRIC-TESTS OF PREFERENCE MAXIMIZATION [J].

BRONARS, SG .

ECONOMETRICA, 1987, 55 (03) :693-698

[5] REALIZATION OF CHOICE FUNCTIONS [J].

CAMPBELL, DE .

ECONOMETRICA, 1978, 46 (01) :171-180

[6] Search, choice, and revealed preference [J].

Caplin, Andrew ;

Dean, Mark .

THEORETICAL ECONOMICS, 2011, 6 (01) :19-48

[7]

Caplin Andrew, 2011, AM EC REV

[8] Consideration Sets and Competitive Marketing [J].

Eliaz, Kfir ;

Spiegler, Ran .

REVIEW OF ECONOMIC STUDIES, 2011, 78 (01) :235-262

[9] Costly information acquisition: Experimental analysis of a boundedly rational model [J].

Gabaix, Xavier ;

Laibson, David ;

Moloche, Guillermo ;

Weinberg, Stephen .

AMERICAN ECONOMIC REVIEW, 2006, 96 (04) :1043-1068

[10] THE PREDICTIVE UTILITY OF GENERALIZED EXPECTED UTILITY THEORIES [J].

HARLESS, DW ;

CAMERER, CF .

ECONOMETRICA, 1994, 62 (06) :1251-1289

← 1 2 3 →