satisficing

doing the minimum

TRANSLATION

satisfice = sich für eine Vorgehensweise zu entscheiden und diese zu verfolgen, die die Mindestanforderungen erfüllt, um ein bestimmtes Ziel zu erreichen (Begriff der Entscheidungstheorie)

STATISTICS

IN THE PRESS

“SATISFICING Behaviour in Web Surveys. Results from a Comparison of Web and Paper Mode across Four National Survey Experiments.”

S. L. Clement — Survey Method (4th April 2023)

—

“Some economic concepts can give you valuable mental models that can help you think about problems more efficiently. SATISFICING is one of them.”

Abdo Riani — ‘Satisficing In Startups’ (29th January 2022)

Did you
know?

satisfice
verb (formal)

- decide on and pursue a course of action that will satisfy the minimum requirements necessary to achieve a particular goal

Oxford Languages

—
WORD ORIGIN

“Satisfice” a blend of satisfy +‎ suffice, was coined by the American political scientist and psychologist Herbert A. Simon in 1956.

—
THE BEST IS THE ENEMY OF THE GOOD!

The idea, particularly in subjective matters, that there is a perfect solution to a problem is known as the "Nirvana fallacy". In reality, there may be no solution that lives up to our idealised preconceptions.

When we step back a little from the decision we are trying to make, it often becomes clear that — although there may exist one best option — there will also be several good options with which we would be satisfied.

Choosing an alternative that may not be the very best, but is at least good enough, is called "satisficing".

An Italian proverb (that the French writer and philosopher Voltaire recorded in his 'Dictionnaire Philosophique') sums it up nicely: "Il meglio è l'inimico del bene" — “The best is the enemy of the good”.

—
SYNONYMS

adequate solution-seeking, agree to less, bypass perfection, choose adequacy (the passable), compromise, downgrade goals (ambitions), forego the ideal, go with the good enough (what works), make do, meet basic requirements (minimum criteria), opt for minimal satisfactory solutions (sufficiency), SATISFICE, suffice, settle for less, take the easiest route

—
SMUGGLE OWAD into a conversation, say something like:

“SATISFICING is a useful technique — it can quickly accommodate the interests of different stakeholders whose support is necessary for success.”

—
HERZLICHEN DANK to all readers helping me keep OWAD alive with single or monthly donations.

Every month, I spend evening and weekend hours with my family researching and writing your daily OWAD. It remains FREE, AD-free, and ALIVE thanks to voluntary donations from appreciative readers.

If you aren’t already, please also consider supporting us - even the equivalent of a single cup of coffee a month will help us cover mailing, site hosting, and maintenance costs. Just head over to DonorBox:

https://donorbox.org/please-become-a-friend-of-owad-5-3

or bank transfer to Paul Smith
IBAN: DE75 7316 0000 0002 5477 40
Please use your email-address as ‘Verwendungszweck’

Thank you,
Paul

More Word Quizzes: