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Satisficing Equilibrium (with Bassel Tarbush)
We propose a solution concept in which each agent does not necessarily optimize but selects one of their top k actions. Our concept modifies Nash equilibrium to account for bounded rationality. We study the prevalence, axiomatic and positive foundations, sufficient conditions for existence, and an application of our solution concept.
Date:
28 January 2025, 12:45
Venue:
Nuffield College, New Road OX1 1NF
Venue Details:
Butler Room
Speaker:
Bary Pradelski (CNRS)
Organising department:
Department of Economics
Part of:
Economic Theory Workshop
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Edward Valenzano
