Search results
Results from the WOW.Com Content Network
An equivalent way of looking at satisficing is epsilon-optimization (that means you choose your actions so that the payoff is within epsilon of the optimum). If we define the "gap" between the optimum and the aspiration as ε where ε = U * − A. Then the set of satisficing options S(ε) can be defined as all those options s such that U(s) ≥ ...
See also Decision analysis and Decision theory. Satisficing: examining alternatives only until the first acceptable one is found. The opposite is maximizing or optimizing, in which many or all alternatives are examined in order to find the best option. Acquiesce to a person in authority or an "expert"; "just following orders".
Peer learning, based on jointly generated evidence, is also an effective means to build capacity and foster scientific excellence. The body of knowledge it generates is a powerful tool for the development of evidence-based policy. [23] Guilmette suggests that peer learning is useful in the development context because
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.
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
It is concerned with the ways in which the actual decision-making process influences decisions. Theories of bounded rationality relax one or more assumptions of standard expected utility theory". [53] Simon determined that the best way to study these areas was through computer simulations. As such, he developed an interest in computer science.
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.
Peer instruction as a learning system works by moving information transfer out and moving information assimilation, or application of learning, into the classroom. [3] [4] [5] Students prepare to learn outside of class by doing pre-class readings and answering questions about those readings using another method, called Just in Time Teaching. [6]