A Conceptual Model of Desire-Based Choice

A bounded rationality model incorporating desires and evaluations based on them is proposed. Choice options are characterized by finitely many degrees of fulfillment of a finite number of desires. The set of options is subject to logical restrictions, resource constraints, and social norms. The evaluation process leading to a choice from the set of feasible options is considered. We offer different evaluation modes, lexicographic rankings of the importance of desires as well as weighted aggregations. In the evaluating procedures we model different goals of the individual, maximization of satisfaction or minimization of frustration, and we also combine satisfaction and frustration in one evaluation including the dependence on the individual s status quo of living.