Cognitive heuristic of searching for an acceptable decision
Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met.[1] The term satisficing, a portmanteau of satisfy and suffice,[2] was introduced by Herbert A. Simon in 1956,[3][4] although the concept was first posited in his 1947 book Administrative Behavior.[5][6] Simon used satisficing to explain the behavior of decision makers under circumstances in which an optimal solution cannot be determined. He maintained that many natural problems are characterized by computational intractability or a lack of information, both of which preclude the use of mathematical optimization procedures. He observed in his Nobel Prize in Economics speech that "decision makers can satisfice either by finding optimum solutions for a simplified world, or by finding satisfactory solutions for a more realistic world. Neither approach, in general, dominates the other, and both have continued to co-exist in the world of management science".[7]
Simon formulated the concept within a novel approach to rationality, which posits that rational choice theory is an unrealistic description of human decision processes and calls for psychological realism. He referred to this approach as bounded rationality. Some consequentialist theories in moral philosophy use the concept of satisficing in the same sense, though most call for optimization instead.
^Colman, Andrew (2006). A Dictionary of Psychology. New York: Oxford University Press. p. 670. ISBN 978-0-19-861035-9.
^Manktelow, Ken (2000). Reasoning and Thinking. Hove: Psychology Press. p. 221. ISBN 978-0863777080.
^Simon, Herbert A. (1956). "Rational Choice and the Structure of the Environment" (PDF). Psychological Review. 63 (2): 129–138. CiteSeerX 10.1.1.545.5116. doi:10.1037/h0042769. PMID 13310708. S2CID 8503301. (page 129: "Evidently, organisms adapt well enough to 'satisfice'; they do not, in general, 'optimize'."; page 136: "A 'satisficing' path, a path that will permit satisfaction at some specified level of all its needs.")
^Artinger, Florian M.; Gigerenzer, Gerd; Jacobs, Perke (2022). "Satisficing: Integrating Two Traditions". Journal of Economic Literature. 60 (2): 598–635. doi:10.1257/jel.20201396. hdl:21.11116/0000-0007-5C2A-4. ISSN 0022-0515. S2CID 249320959.
^Brown, Reva (2004). "Consideration of the Origin of Herbert Simon's Theory of 'Satisficing' (1933-1947)". Management Decision. 42 (10): 1240–1256. doi:10.1108/00251740410568944.
^Simon, Herbert A. (1947). Administrative Behavior: a Study of Decision-Making Processes in Administrative Organization (1st ed.). New York: Macmillan. OCLC 356505.
^Simon, Herbert A. (1979). "Rational decision making in business organizations". The American Economic Review. 69 (4): 493–513. JSTOR 1808698.
philosophy use the concept of satisficing in the same sense, though most call for optimization instead. In decision making, satisficing refers to the use of aspiration...
finding. Acquiescence bias is proposed to be a product of 'satisficing' behaviour. 'Satisficing' sees respondents select responses that are satisfactory...
soft drink, launched in 2012 Effort satisficing theory, a decision-making strategy; see Satisficing § Effort satisficing theory Established; see Anniversary...
priority among them. Cyert and March proposed that real firms aim at satisficing rather than maximizing their results. I.e., some groups may settle for...
inhibit it… The results suggest that persons in elevated moods may prefer satisficing strategies, which would lead to a higher number of proposed solutions...
decision-making process. There are three primary search heuristics. SatisficingSatisficing is the idea that there is some minimum requirement from the search...
anticipated or was very unlikely. Another difference is between maximizing and satisficing consequentialism. According to maximizing consequentialism, only the...
(computing) Perfect is the enemy of good Proof of concept Rule of thumb Satisficing Worse is Better You aren't gonna need it Capps, Robert (2009-08-24)....
other things. Rosenberg self-esteem scale – Self-report questionnaire Satisficing – Cognitive heuristic of searching for an acceptable decision Semantic...
Discipline concerning the application of advanced analytical methods Satisficing – Cognitive heuristic of searching for an acceptable decision − the optimum...
Husain, Zakir; Dutta, Mousumi (2013). Women in Kolkata's IT Sector: Satisficing Between Work and Household. Springer Science & Business Media. p. 133...
(software engineering) If it ain't broke, don't fix it Nirvana fallacy Satisficing Utopia Wabi-sabi Worse is better KISS Principle Voltaire (1770). Questions...
of information Quantum information Receiver operating characteristic Satisficing John B. Anderson; Rolf Johnnesson (1996). Understanding Information Transmission...
"Word for Word: Neology; In the Dictionary Game, Yada Yada Yada Is Satisficing to Some, Not Others", The New York Times, August 22, 1999. Accessed April...
Minimum viable product Perfect is the enemy of good Progressive disclosure Satisficing Rule of least power Keep it simple, stupid Wabi-sabi Gangarz, Mike (2003-08-05)...
'inattentive response behavior', 'satisficing behavior' or 'careless responding'. In addition to the suspected satisficing and forging of data for financial...
calculations to solve problems and make decisions. According to the satisficing heuristic, for example, agents usually stop their search for the best...
developing the plan. Other models for planning include rational actor, satisficing, incremental planning, organizational process, and political bargaining...
bounded rationality, as both long term, goal-driven policy rationality and satisficing were not seen as adequate.[citation needed] Most people use incrementalism...
cognitive limits of rationality. Additionally they proposed the notion of satisficing, which entails searching through the available alternatives until an...
therefore our decision-making skills. Furthermore, his concepts of 'satisficing' and 'optimizing' suggest sometimes because of these factors, we settle...
compared to the choices made by individuals optimal beliefs and their satisficing behaviour. Kahneman cites that the research contributes mainly to the...
requirements. One approach is to drop the demand that utility be maximized. In Satisficing Consequentialism, Michael Slote argues for a form of utilitarianism where...
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