satisficer

Examples of satisficer in the following topics:

• Non-Rational Decision Making

  • Simon defined two cognitive styles: maximizers and satisficers.
  • Maximizers try to make an optimal decision, whereas satisficers simply try to find a solution that is "good enough."
  • They also tend to regret their decisions more often (perhaps because they are more able than satisficers to recognize when a decision has turned out to be sub-optimal).
  • On the other hand, satisficers recognize that decision makers lack the ability and resources to arrive at an optimal solution.
  • Thus, a satisficer seeks a satisfactory solution rather than an optimal one.