Others reject the view that agents are always required to bring about the best possible outcome and adopt a satisficing
view, according to which agents are required to bring about outcomes that are sufficiently good.
Tversky (the founding fathers of modern behavioral economics) is that heuristics and biases can lead to a satisficing
In other words, (small) variations above the satisficing
level do not matter.
Summary: The book includes activities like the well-known gratitude letter and savouring, but also lesser known strategies like satisficing
, dealing with psychological adaptation, self-compassion etc
A major finding from this study is that local governments use benchmarking data both for excellence and satisficing
when responding to departmental rankings.
The analysis uses two concepts: the innovation dilemma and robust satisficing
(satisfying a critical or essential outcome requirement).
and Motivated Submaximization (in the Philosophy of Religion), CHRIS TUCKER
What are those conditions, and what are the conditions under which satisficing
We then go on to present our own proposal which argues that consequentialists should: i) be value-pluralist and multi-dimensional in their axiology; ii) avoid probability-domination; iii) define guardrails and thresholds for permissible outcomes; and iv) focus on the overall satisfaction of a range of relevant thresholds (including probability) within a satisficing
This has been done because, in many planning applications, it might not be possible to wait a significant amount of time for having a plan to use; satisficing
plans are required as soon as possible and, eventually, they can be optimized.
It was Day (1967) who suggested that an economy of satisficing
firms might evolve into one populated by firms that optimised, as those with better decision rules would drive out those with less effective ones and eventually, via experimentation, the survivors would stumble upon strategies upon which they could not improve.
In terms of the necessary information literacy and critical thinking skills required for undergraduate students to succeed academically (ALA, 2000), satisficing
in information seeking and information search abandonment has been shown to produce negative effects on undergraduate student performance in the short term, and can contribute significantly to poor overall academic performance in the long term, affecting chances of degree completion (Becker, 2003; Gross et al.