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(c) (20 points) Satish emphatically denies being a maximizer. He claims he is a 'satisficer' in the following sense. For each movie m in X,
(c) (20 points) Satish emphatically denies being a maximizer. He claims he is a 'satisficer' in the following sense. For each movie m in X, he treats its IMDb score q (m) as a proxy for the quality of that movie. He also has a minimum standard q that satisfies the following two strict inequalities: maxq (m) > q> ming (m). mex bEX When he wants to watch a movie, he does a Google search with a key word (say drama or action) and takes as his menu the first page of search results M S X. Satish then employs the following procedure to select a movie from that page of search results. He first reorders 3 the movies on that page alphabetically by title. He then scrolls down the alphabetically reordered titles starting from the top, and chooses the first movie m* in M for which 9 (m*) > 9. If he has not found any such movie by the time he reaches the last movie on the alphabetically-reordered first page of search results, he chooses that last alphabetically ranked movie. (c) (20 points) Satish emphatically denies being a maximizer. He claims he is a 'satisficer' in the following sense. For each movie m in X, he treats its IMDb score q (m) as a proxy for the quality of that movie. He also has a minimum standard q that satisfies the following two strict inequalities: maxq (m) > q> ming (m). mex bEX When he wants to watch a movie, he does a Google search with a key word (say drama or action) and takes as his menu the first page of search results M S X. Satish then employs the following procedure to select a movie from that page of search results. He first reorders 3 the movies on that page alphabetically by title. He then scrolls down the alphabetically reordered titles starting from the top, and chooses the first movie m* in M for which 9 (m*) > 9. If he has not found any such movie by the time he reaches the last movie on the alphabetically-reordered first page of search results, he chooses that last alphabetically ranked movie
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