  When network users are satisficing decision-makers, the resulting traffic
pattern attains a satisficing user equilibrium, which may deviate from the
(perfectly rational) user equilibrium. In a satisficing user equilibrium
traffic pattern, the total system travel time can be worse than in the case of
the PRUE. We show how bad the worst-case satisficing user equilibrium traffic
pattern can be, compared to the perfectly rational user equilibrium. We call
the ratio between the total system travel times of the two traffic patterns the
price of satisficing, for which we provide an analytical bound. We compare the
analytical bound with numerical bounds for several transportation networks.
