In a decision problem, the selection by the decision maker (DM) of a satisfactory alternative as opposed to the selection of an “optimal” alternative. Here, the DM sets aspiration levels or acceptable levels on the outcomes and chooses the (first) alternative that satisfies these levels. This compromise selection is due to the DM's inability to encompass all the complexities of the decision problem and/or lack of a method that can determine an optimal solution. The concept is due to Simon (from “A Behavioral Model of Rational Choice,” Qtrly. Jl. Economics, 69, 99–118, 1957; and Models of Man, John Wiley, New York, 1957). Bounded rationality; Choice theory; Decision analysis; Decision maker; Decision problem; Goal programming.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsAuthor information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2001 Kluwer Academic Publishers
About this entry
Cite this entry
Gass, S.I., Harris, C.M. (2001). Satisficing . In: Gass, S.I., Harris, C.M. (eds) Encyclopedia of Operations Research and Management Science. Springer, New York, NY. https://doi.org/10.1007/1-4020-0611-X_919
Download citation
DOI: https://doi.org/10.1007/1-4020-0611-X_919
Published:
Publisher Name: Springer, New York, NY
Print ISBN: 978-0-7923-7827-3
Online ISBN: 978-1-4020-0611-1
eBook Packages: Springer Book Archive