'Satisficing equilibrium'

Name: 'Satisficing equilibrium'
Start: 2026-01-22T17:15:00+0000
End: 2026-01-22T17:15:00+0000

22 January 2026

Maison Française d'Oxford

Similar events

Leverhulme Lecture 'The Life of Rocks: An Anthropological Approach to Research in Astrobiology'

27 November 2026

Perig Pitrou (CNRS – Maison Française d’Oxford – University College London, Leverhulme Visiting Professor)

Workshop 'Before and Beyond Political Economy: Economic Ideas and Political Culture in Early Modern Europe'

30 November 2026

Before and Beyond Political Economy: Economic Ideas and Political Culture in Early Modern Europe

As part of the ‘Perspectives from the MFO’ Lecture Series

Bary Pradelski (MFO)

I will introduce a new equilibrium concept --- satisficing equilibrium --- that combines the analytic rigor of equilibrium analysis with insights from the literature on bounded rationality. To make it accessible, I will first revisit Nash equilibrium, the central concept in economic theory that assumes that agents behave optimally.