Satisficing Choice Procedures

Standard choice theory assumes that the choice set is known to the decision-maker in advance. In contrast, we develop a model in which alternatives are examined sequentially and decision-makers exhibit `satis cing' attitudes. The proposed procedure includes the standard model of choice as a special case and can explain several choice anomalies. We axiomatically characterize our model and investigate behavioral de nitions of satisfaction, attention, and preference under various choice domains. Moreover, we extend Rubinstein and Salant (2006)'s choice from list model and investigate the relationships between their procedure and ours.