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  2. Satisficing - Wikipedia

    en.wikipedia.org/wiki/Satisficing

    Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met, ...

  3. Maximization (psychology) - Wikipedia

    en.wikipedia.org/wiki/Maximization_(psychology)

    The distinction between "maximizing" and "satisficing" was first made by Herbert A. Simon in 1956. [1] [2] Simon noted that although fields like economics posited maximization or "optimizing" as the rational method of making decisions, humans often lack the cognitive resources or the environmental affordances to maximize.

  4. Herbert A. Simon - Wikipedia

    en.wikipedia.org/wiki/Herbert_A._Simon

    His primary research interest was decision-making within organizations and he is best known for the theories of "bounded rationality" and "satisficing". [ 6 ] [ 7 ] He received the Turing Award in 1975 and the Nobel Memorial Prize in Economic Sciences in 1978.

  5. Acquiescence bias - Wikipedia

    en.wikipedia.org/wiki/Acquiescence_bias

    Weak satisficing: Respondents still execute all four stages of the 'Four stage model of the response process.' However, the stages are carried out less rigorously, which results in the output being satisfactory rather than highly accurate. An example of weak satisficing is a respondent who doesn't search their memory as deeply as possible.

  6. Heuristic (psychology) - Wikipedia

    en.wikipedia.org/wiki/Heuristic_(psychology)

    For instance, professional real-estate entrepreneurs rely on satisficing to decide in which location to invest to develop new commercial areas: "If I believe I can get at least x return within y years, then I take the option." [20] In general, satisficing is defined as: Step 1: Set an aspiration level α

  7. The Paradox of Choice - Wikipedia

    en.wikipedia.org/wiki/The_Paradox_of_Choice

    The Paradox of Choice – Why More Is Less is a book written by American psychologist Barry Schwartz and first published in 2004 by Harper Perennial.In the book, Schwartz argues that eliminating consumer choices can greatly reduce anxiety for shoppers.

  8. Group decision-making - Wikipedia

    en.wikipedia.org/wiki/Group_decision-making

    "Satisficing" A combination of the words "satisfy" and "suffice". Members accept a low-risk, easy solution instead of searching for the best solution. Trivialization The group will avoid dealing with larger issues by focusing on minor issues. Two fundamental "laws" that groups all too often obey: [citation needed] Parkinson's Law

  9. Talk:Satisficing - Wikipedia

    en.wikipedia.org/wiki/Talk:Satisficing

    To think of the word "satisfice" as a portmanteau of "satisfy" and either "sacrifice" or "suffice" can be a useful means of remembering the sense of the word, as a satisficing strategy will sacrifice an optimal outcome in favour of a sufficient or satisfactory outcome. However, "satisfice" is not a portmanteau.