satisfice. verb. A blend of satisfy and suffice, coined by Nobel Prize winning economist Herbert A. Simon in his 1956 article ‘Rational Choice and the Structure of the Environment’ to describe the behavior of pursuing the minimum satisfactory outcome. Satisficing is the opposite of maximizing or optimizing. Also, a Northern English/Scottish synonym for satisfy.
“That tendency is known as satisficing, a blend of sufficing and satisfying: a response bias that errs on the egocentric side of plausible answers to a given question. As soon as we find an answer that satisfies, we stop looking, whether or not the answer is ideal or even remotely accurate.” (Maria Konnikova)
“Then there is satisficing, a coping strategy whereby one takes in just enough information to meet a specific need and ignores the rest. This could be considered a practical approach for one who is not aware of the full range of choices.” (David A. Sousa)
“According to [the scholar Herbert] Simon, people can be maximizers and satisficers in different contexts. For example, when it comes to, let’s say, tacos, I’m a maximizer. I’ll do a rigorous amount of research to make sure I’m getting the best taco I can find, because for me there is a huge difference in the taco experience. A satisficer will just get tacos wherever they see a decent taco stand and call it a day. I hate getting tacos with these people. Enjoy your nasty tacos, losers.” (Aziz Ansari)