Second, regarding the scaling parameter s, we found a twofold difference between maximizers and satisficers.
For the sake of promoting discussion and future investigation, however, consider a linear relationship between experienced search costs and number of options, with slope = 1 for maximizers and slope <- 1 for satisficers.
Regret Scale scores were used mainly to compare the maximizer (median = 24.5) and satisficer (median =15) subgroups.
Using the nonlinear regression function of GraphPad Prism[R] 5.03 for Windows (GraphPad Software, San Diego, CA, www.graphpad.com), we derived the k values from the one-phase exponential decay equation across the maximizer and satisficer groups.
Moreover, when we applied the one-phase exponential decay model--which served as the basis for many early models of discounting--to our data, we obtained fits that accounted for 98.6% and 95.4% of the variance for the satisficer and maximizer groups, respectively.
In particular, we show that a unique ordering regarding social welfare does not exist: Leagues in which all clubs are profit maximizers dominate all other leagues; whereas, mixed leagues in which small-market clubs are profit maximizers and large-market clubs are win maximizers (type-I mixed leagues) are dominated by all other leagues.
A type-I mixed league is a league where the large-market club is a win maximizer and the small-market club a profit maximizer.
We assume that the large club 1 is a win maximizer and the small club 2 is a profit maximizer.
In this last case, we assume that the large club 1 is a profit maximizer and the small club 2 a win maximizer.
The proposition shows that a league with two profit-maximizing clubs is the most balanced league; that is, [CB.sup.PM] > [CB.sup.[mu]] for[mu] [member of] {WM, TypeI, TypeII}; whereas, a mixed league in which the large club is a win maximizer and the small club a profit maximizer proves to be the least balanced league; that is, [CB.sup.TypeI] < [CB.sup.[mu]] for [mu] [member of] {PM, WM, TypeII}.
In mixed leagues in which the large club is a profit maximizer and the small club is a win maximizer (type-II mixed leagues), the degree of competitive balance is also too low from a welfare perspective.
