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Satisficing

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Satisficing Definition

The term “satisficing” was first coined by the nobel laureate Herbert Simon to describe “decision making that takes the short cut of defining a set of aspirations and then settling on some (usually the first) alternative that meets the minimum requirements” (Moyer, 2007: 144).

Satisficing Description

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Satisficing Examples

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Satisficing Implementation

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Satisficing Strengths

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Satisficing Weaknesses

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Satisficing Value Focus

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Satisficing Life Cycle

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Satisficing Sector Focus

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Satisficing Web resources

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Satisficing Print resources

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Satisficing References

  • Bordley, R. and Kirkwood, C. (2004) Preference Analysis with Multiattribute Performance Targets, Operations Research, Vol. 52 (6), pp. 823-835.
  • Brown, R., (2004) UK Consideration of the origin of Herbert Simon's theory of satisficing: 1933-1947, Management Decision, Vol. 42 (10), pp. 1240-1256.
  • Byron, M. (2004) Satisficing and Maximising: Moral Theorists on Practical Reason, Cambridge University Press.
  • De Groot, A. (1965) Thought and choice in chess, Mouton, The Hague.

There are up to fifteen original source references used to write the overview of Satisficing. Please log in or subscribe to view the original source material our researchers used to write about this concept.

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