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 ?
For the choice of multiobjective decision making policy, our results indicate that from the overall performance perspective relatively simple policies (i.e., equal weighting and satisficing approaches) lead to higher performances than schism approaches.
A Multi Criteria Satisficing Methodology for the Design of Energy-Efficient Buildings, MS Thesis, Arizona State University, Tempe, AZ.
(50) but surely it can't be rational to peg satisficing to the
Satisficing in financial decision making - a theoretical and experimental approach to bounded rationality.
It seems clear that co-operation is facilitated by the ideal of satisficing rather than maximising.
(41) Susan Corby and Celia Stanworth, "A Price Worth Paying: Women and work - choice, constraint or satisficing," Equal Opportunity International, Emerald Group Publishing 28, no.
Moyer, D., Satisficing, Harvard Business Review, 85, 4, 2007, p.
Um tomador de decisao pode decidir ajustar o nivel minimo considerado adequado para satisficing se achar que um numero desconfortavelmente alto de opcoes nao conseguiu alcancar o nivel minimo de aceitabilidade (Sternberg, 2000, p.342).
He also found that in practical reality people often opt for the first satisfactory choice, known as 'Satisficing'.
In Chapter 3, we learn that the decision-making role of the firm has progressed from the neoclassical standpoint of profit maximization to sales maximization, utility maximization, and satisficing. From the Operation Research point of view, Kenneth Arrow explained that, "...
The literature suggests that post-graduate students display patterns of satisficing behavior (1) and one would not expect to see correlated patterns of achievement.