Simon's satisficing theory

Simon's satisficing theory suggests that when people make decisions, they aim for a solution that is "good enough" rather than the absolute best. Due to limited information, time, and cognitive resources, individuals settle for an option that meets their needs and is satisfactory, rather than exhaustively seeking the optimal one. This approach recognizes human limitations and explains why decisions are often made quickly and with less than perfect certainty, balancing effort and effectiveness in decision-making.