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This paper presents a satisficing model of choice that incorporates the complexity of alternatives, revealing that increased complexity leads to errors in value perception. The authors validate their model using a dataset of chess moves, demonstrating that higher complexity decreases the likelihood of selecting high-value moves, contrasting with maximization models. The findings suggest a broader applicability of satisficing behavior in decision-making beyond chess, providing a framework for understanding c
- Author
- ngigifredaustinemwaura
- Language
- EN