A Theory of Satisficing Control. Part I: Single-Agent Control
Optimal control is based on a global perspective. Many systems, either because
they are nonlinear or because a global model is not available, do not admit
solution techniques based on optimal methods. Satisficing control is an alternative
approach that is compatible with the limited rationality associated with such
systems. Epistemic utility theory provides a framework, based on a perspective
of limited rationality, that permits the introduction of a satisficing control
theory. The notion of strong satisficing provides a viable design synthesis
procedure for satisficing control. The power of the satisficing approach is
illustrated by applications to representative control problems.