What does satisficer mean?
Definitions for satisficer
sat·is·fi·cer
This dictionary definitions page includes all the possible meanings, example usage and translations of the word satisficer.
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Wiktionary
satisficernoun
one who satisfices (rather than optimizes)
Wikipedia
satisficer
Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met. The term satisficing, a portmanteau of satisfy and suffice, was introduced by Herbert A. Simon in 1956, although the concept was first posited in his 1947 book Administrative Behavior. Simon used satisficing to explain the behavior of decision makers under circumstances in which an optimal solution cannot be determined. He maintained that many natural problems are characterized by computational intractability or a lack of information, both of which preclude the use of mathematical optimization procedures. He observed in his Nobel Prize in Economics speech that "decision makers can satisfice either by finding optimum solutions for a simplified world, or by finding satisfactory solutions for a more realistic world. Neither approach, in general, dominates the other, and both have continued to co-exist in the world of management science".Simon formulated the concept within a novel approach to rationality, which posits that rational choice theory is an unrealistic description of human decision processes and calls for psychological realism. He referred to this approach as bounded rationality. Some consequentialist theories in moral philosophy use the concept of satisficing in the same sense, though most call for optimization instead.
Numerology
Chaldean Numerology
The numerical value of satisficer in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of satisficer in Pythagorean Numerology is: 1
Translations for satisficer
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"satisficer." Definitions.net. STANDS4 LLC, 2024. Web. 19 Mar. 2024. <https://www.definitions.net/definition/satisficer>.
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