Satisficing, preferences, and social interaction: a new perspective

Satisficing is a central concept in both individual and social multiagent 2 decision making. In this paper we first extend the notion of satisficing by formally 3 modeling the tradeoff between costs (the need to conserve resources) and decision 4 failure. Second, we extend this notion of “neo”-satisficing into the context of social 5 or multiagent decision making and interaction, and model the social conditioning of 6 preferences in a satisficing framework.