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Specifically, for values of N below N*, the graph of the satisficer correspondence is in fact the curve corresponding to a = 1--the maximizer's curve--because checking all options is the best strategy.
Also, the maximizer region and the satisficer zone I (see Figure 5) are affected by changes in the mean and standard deviation: if the price mean increases the maximizer region shrinks and satisficer conducts appear for a lower number of options; whereas if the dispersion increases the satisficer zone I expands and the maximizer behavior remains for a larger number of options.
But in Boom Times, firms following this path will unduly restrict their business--not as much as Conservator firms, but certainly more than Maximizer firms.
To gain traction across the full spectrum of human risk perspectives, the firm's risk management approach must include aspects that fit all four perspectives: Maximizer, Conservator, Manager and Pragmatist.
Equation 2 also provided a good account for maximizers ([R.sub.2] =.92).
We expected that satisficers would differ from maximizers in two ways.
Additionally, satisficers tended to choose an extensive-options scenario less often than maximizers (see Figure 2), which is consistent with the assumption that the value of the extensive-options scenario is differentially discounted, presumably because of the anticipation of search costs.
It is also noteworthy that maximizers' sensitivity to the scaling of search costs (i.e., s in Equation 2) was 2.04 times greater than that of the satisficer group but.70 times less than the aggregate.
We assume that both clubs are profit maximizers. The maximization problem of club i = 1, 2 is therefore given by [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII].
In this section, both clubs are assumed to be win maximizers. Each club chooses independently a level of talent in order to maximize the level of own talents subject to its budget constraint.
A homogeneous league in which both clubs are profit maximizers (PM league) generates the highest level of social welfare; that is, [W.sup.PM] > [W.sup.[mu]] for [mu] [member of] {TypeI, TypeII, WM}.