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  1.  33
    When and how to satisfice: an experimental investigation.John D. Hey, Yudistira Permana & Nuttaporn Rochanahastin - 2017 - Theory and Decision 83 (3):337-353.
    This paper is about satisficing behaviour. Rather tautologically, this is when decision-makers are satisfied with achieving some objective, rather than in obtaining the best outcome. The term was coined by Simon, and has stimulated many discussions and theories. Prominent amongst these theories are models of incomplete preferences, models of behaviour under ambiguity, theories of rational inattention, and search theories. Most of these, however, seem to lack an answer to at least one of two key questions: when should the decision-maker satisfice; (...)
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  2.  13
    Explaining satisficing through risk aversion.Yudistira Permana - 2020 - Theory and Decision 89 (4):503-525.
    This paper extends the analysis of the data from the experiment of Hey et al. : 337–353, 2017), which was designed to test Proposition 2 of the theory of Manski : 155–173, 2017). I focus on how the subjects select the aspiration levels when they choose to satisfice, and try to find a better explanation for that story than that of Manski. I assume that the subjects are expected utility agents and that they think of the payoffs as having a (...)
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    Why do people prefer randomisation? An experimental investigation.Yudistira Permana - 2020 - Theory and Decision 88 (1):73-96.
    Increasingly, experimental economists, when eliciting risk preferences using a set of pairwise-choice problems, have given subjects a third choice, namely that of saying, for example, ‘I am not sure about my preference’ or ‘I am not sure what to choose’. The implications for subjects of choosing this third option vary across experiments depending upon the incentive structure. Some experiments provide no direct financial implications: what is ‘played out’ at the end of the experiment is not influenced by subjects choosing this (...)
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