By using the decision-making model and understanding satisficing
, decision-making becomes less confusing, although perhaps not less complicated.
Some common features of digital reading may make satisficing
even worse for digital readers: If digital readers have searched a keyword, for example, they may satisfice by skipping to the next use of that term, a use that may not appear until several pages later.
These subjects can be said to have made decisions that were neither optimizing nor satisficing
Simon's notion of an agent having bounded resources (limited memory, processing ability, time) and using a strategy of satisficing
instead of maximising personal gain was, for four decades, drowned out by the Wall Street hymn to greed, although recent times have seen a revival of Simon's ideas in the research of Gerd Gigerenzer and others.
2) See for instance: Vanessa Gash, "Sacrificing Their Careers for Their Families: An Analysis of the Penalty to Motherhood in Europe," Science + Business Media, Cathie March Centre for Census and Research; University of Manchester 93 (2009, January 17): 583; Susan Corby and Celia Stanworth, "A Price Worth Paying: Women and work - choice, constraint or satisficing
122) Alternative theories include Simon's model of satisficing
with imperfect information and Lindblom's notion of incrementalism, which saw policy develop through a series of small steps and alterations.
The results are consistent with a satisficing
strategy by bookmakers to deal with insider information.
Although firms are assumed to maximize their own profits on the market, with a large number of buyers firms actually resort to satisficing
behavior, whereby organizations treat profit not as a goal to be maximized, but as a constraint (Simon, 1972).
behaviours of often specifically not wanting to grow too large and thereby reach maximum economic potential (i.
Of course, satisficing
may result in outcomes that lie outside the narrow and precise predictions of formalizations grounded in rational choice.
There is an element of satisficing
(March & Simon, 1958) behavior, loosely defined, here where individuals take the first explanations for circumstances which seem plausible.
In poor, satisficing
responses, entrepreneurial services are but partially rendered, i.