The theory of ‘satisficing’ says that, given a feasible set, an individual chooses not the best alternative but a ‘satisfactory’ one. Explain why, in terms of the discussion of this section, this...

The theory of ‘satisficing’ says that, given a feasible set, an individual chooses not the best alternative but a ‘satisfactory’ one. Explain why, in terms of the discussion of this section, this theory may fail to yield predictions about economic behaviour.