Satisficing


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Satisficing

The act or practice of doing the absolute minimum necessary to complete a project. That is, when one satisfices a contract, one did no more than was required. This may reduce costs, but may not be the best way to conduct business because there may be fewer repeat customers.
References in periodicals archive ?
9) The developed studies offer some first evidence on the existence of a satisficing threshold.
We counsel tolerance of noncomparative policy evaluation and satisficing under uncertainty; of rationally arbitrary decisionmaking under uncertainty; of tradeoffs that compromise simple accuracy, such as mean-variance tradeoffs and speed-accuracy tradeoffs; tolerance for agency discretion to decide which factors are relevant to the goals of statutory policy; and tolerance for agencies who possess tacit expertise acquired through experience, and who thus have reasons they cannot necessarily explain.
Employing such a multi-dimensional framework within a satisficing theory has the further advantage that one determines separate probability thresholds, since for positive consequence-bundles we want probability to be high (i.
Portfolio-based planners performed very well in the satisficing track and the multicore track participants were all portfolio-based.
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.
50) but surely it can't be rational to peg satisficing to the
These subjects can be said to have made decisions that were neither optimizing nor satisficing.
Using the theory of satisficing to evaluate the quality of survey data.
The main contribution of the present paper is to propose a theory that allows satisficing sellers to make "optimal" decisions without being equipped with any prior.
Seniors cope with discomfort in two ways: satisficing (getting something done some way even if it was inefficient) and by actively using their proactive coping skills.