satisficingpäätöksentekoa
Satisficing decision-making, or satisficingpäätöksentekoa in Finnish, is a decision-making strategy where individuals choose an option that is "good enough" rather than searching for the optimal solution. The term was coined by Nobel laureate Herbert Simon. It contrasts with the concept of optimizing, which aims to find the very best possible outcome.
In practice, satisficing occurs when the costs of extensive search and analysis outweigh the potential benefits
The underlying principle of satisficing is bounded rationality. Simon argued that human cognitive abilities are limited,
Examples of satisficing can be found in everyday life, such as choosing a restaurant that looks decent