IDEAS home Printed from https://ideas.repec.org/a/spr/jogath/v40y2011i1p179-198.html
   My bibliography  Save this article

Satisficing search versus aspiration adaptation in sales competition: experimental evidence

Author

Listed:
  • Siegfried Berninghaus
  • Werner Güth
  • M. Levati
  • Jianying Qiu

Abstract

No abstract is available for this item.

Suggested Citation

  • Siegfried Berninghaus & Werner Güth & M. Levati & Jianying Qiu, 2011. "Satisficing search versus aspiration adaptation in sales competition: experimental evidence," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(1), pages 179-198, February.
    • Handle: RePEc:spr:jogath:v:40:y:2011:i:1:p:179-198
    DOI: 10.1007/s00182-010-0232-z
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s00182-010-0232-z
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s00182-010-0232-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Rami Zwick & Amnon Rapoport & Alison King Chung Lo & A. V. Muthukrishnan, 2001. "Consumer Search: Not Enough Or Too Much?," Experimental 0110002, University Library of Munich, Germany.
    2. Huck, Steffen & Muller, Wieland & Normann, Hans-Theo, 2001. "Stackelberg Beats Cournot: On Collusion and Efficiency in Experimental Markets," Economic Journal, Royal Economic Society, vol. 111(474), pages 749-765, October.
    3. Rami Zwick & Amnon Rapoport & Alison King Chung Lo & A. V. Muthukrishnan, 2003. "Consumer Sequential Search: Not Enough or Too Much?," Marketing Science, INFORMS, vol. 22(4), pages 503-519, October.
    4. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    5. Heifetz Aviad & Minelli Enrico, 2015. "Aspiration Traps," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 15(2), pages 125-142, July.
    6. Smith,Vernon L., 2009. "Rationality in Economics," Cambridge Books, Cambridge University Press, number 9780521133388, January.
    7. Werner G³th & Hartmut Kliemt, 2004. "Bounded Rationality and Theory Absorption," Homo Oeconomicus, Institute of SocioEconomics, vol. 21, pages 521-541.
    8. Simon, Herbert A, 1979. "Rational Decision Making in Business Organizations," American Economic Review, American Economic Association, vol. 69(4), pages 493-513, September.
    9. Karandikar, Rajeeva & Mookherjee, Dilip & Ray, Debraj & Vega-Redondo, Fernando, 1998. "Evolving Aspirations and Cooperation," Journal of Economic Theory, Elsevier, vol. 80(2), pages 292-331, June.
    10. Napel, Stefan, 2003. "Aspiration adaptation in the ultimatum minigame," Games and Economic Behavior, Elsevier, vol. 43(1), pages 86-106, April.
    11. Steffen Huck & Kai A. Konrad & Wieland Müller & Hans-Theo Normann, 2007. "The Merger Paradox and why Aspiration Levels Let it Fail in the Laboratory," Economic Journal, Royal Economic Society, vol. 117(522), pages 1073-1095, July.
    12. Werner Güth & M. Vittoria Levatia & Matteo Ploner, 2008. "Satisficing and prior-free optimality in price competition: a theoretical and experimental analysis," Jena Economics Research Papers 2008-067, Friedrich-Schiller-University Jena.
    13. Babcock, Linda & Farber, Henry S. & Fobian, Cynthia & Shafir, Eldar, 1995. "Forming beliefs about adjudicated outcomes: Perceptions of risk and reservation values," International Review of Law and Economics, Elsevier, vol. 15(3), pages 289-303, September.
    14. Lilly, Gregory, 1994. "Bounded rationality : A Simon-like explication," Journal of Economic Dynamics and Control, Elsevier, vol. 18(1), pages 205-230, January.
    15. Colin F. Camerer & Teck-Hua Ho & Juin-Kuan Chong, 2004. "A Cognitive Hierarchy Model of Games," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(3), pages 861-898.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Malakhov, Sergey, 2021. "Work of invisible hand: the gravitation between sellers and buyers on the consumption-leisure production possibility frontier," MPRA Paper 106750, University Library of Munich, Germany.
    2. Berg, Nathan & Prakhya, Srinivas & Ranganathan, Kavitha, 2018. "A satisficing approach to eliciting risk preferences," Journal of Business Research, Elsevier, vol. 82(C), pages 127-140.
    3. Malakhov, Sergey, 2020. "Invisible hand at consumption-leisure production possibility frontier: the allocation of time between goods and services under wage and price dispersions," MPRA Paper 104455, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Siegfried Berninghaus & Werner Güth & M. Vittoria Levati & Jianying Qiu, 2006. "Satisficing in sales competition: experimental evidence," Papers on Strategic Interaction 2006-32, Max Planck Institute of Economics, Strategic Interaction Group.
    2. Armstrong, Mark & Huck, Steffen, 2010. "Behavioral economics as applied to firms: a primer," MPRA Paper 20356, University Library of Munich, Germany.
    3. Güth, Werner & Vittoria Levati, M. & Ploner, Matteo, 2010. "Satisficing in strategic environments: A theoretical approach and experimental evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(5), pages 554-561, October.
    4. Horaguchi, Haruo, 1996. "The role of information processing cost as the foundation of bounded rationality in game theory," Economics Letters, Elsevier, vol. 51(3), pages 287-294, June.
    5. Daniel Serra, 2021. "Decision-making: from neuroscience to neuroeconomics—an overview," Theory and Decision, Springer, vol. 91(1), pages 1-80, July.
    6. Güth, Werner, 2010. "Satisficing and (un)bounded rationality--A formal definition and its experimental validity," Journal of Economic Behavior & Organization, Elsevier, vol. 73(3), pages 308-316, March.
    7. Jhunjhunwala, Tanushree, 2021. "Searching to avoid regret: An experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 298-319.
    8. DeCanio, Stephen J. & Watkins, William E., 1998. "Information processing and organizational structure," Journal of Economic Behavior & Organization, Elsevier, vol. 36(3), pages 275-294, August.
    9. Costel Andonie & Daniel Diermeier, 2022. "Electoral Institutions with impressionable voters," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 59(3), pages 683-733, October.
    10. Michaël Lainé, 2014. "Vers une alternative au paradigme de la rationalité ? Victoires et déboires du programme spinoziste en économie," Post-Print hal-01335618, HAL.
    11. Sadok Mansour, 2007. "Modelisation Du Risque Dans Les Methodologies D'Audit : Apport Des De La Psychometrie," Post-Print halshs-00543217, HAL.
    12. Hosseini, Hamid, 2003. "The arrival of behavioral economics: from Michigan, or the Carnegie School in the 1950s and the early 1960s?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(4), pages 391-409, September.
    13. Marcin Dziubinski & Jaideep Roy, 2007. "Endogenous Selection of Aspiring and Rational rules in Coordination Games," CEDI Discussion Paper Series 07-14, Centre for Economic Development and Institutions(CEDI), Brunel University.
    14. Sandri, Serena & Schade, Christian & Mußhoff, Oliver & Odening, Martin, 2010. "Holding on for too long? An experimental study on inertia in entrepreneurs' and non-entrepreneurs' disinvestment choices," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 30-44, October.
    15. Iskakov, A. & Iskakov, M., 2017. "In Search of a Generalized Concept of Rationality," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 181-189.
    16. Jack Vromen, 2013. "Competition as an evolutionary process: Mark Blaug and evolutionary economics," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 9, pages 98-124, Edward Elgar Publishing.
    17. Pantelis P. Analytis & Amit Kothiyal & Konstantinos Katsikopoulos, 2014. "Multi-attribute utility models as cognitive search engines," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(5), pages 403-419, September.
    18. Elżbieta Jędrych & Dariusz Klimek & Agnieszka Rzepka, 2021. "Principles of Sustainable Management of Energy Companies: The Case of Poland," Energies, MDPI, vol. 14(8), pages 1-18, April.
    19. Prietula, Michael J. & Watson, Harry S., 2008. "When behavior matters: Games and computation in A Behavioral Theory of the Firm," Journal of Economic Behavior & Organization, Elsevier, vol. 66(1), pages 74-94, April.
    20. Feng, Lei & Zhang, Minghui & Li, Yixin & Jiang, Yan, 2020. "Satisfaction principle or efficiency principle? Decision-making behavior of peasant households in China’s rural land market," Land Use Policy, Elsevier, vol. 99(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jogath:v:40:y:2011:i:1:p:179-198. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.