Theory of Satisficing

The Theory of Satisficing suggests that people often seek a solution or decision that is "good enough" rather than the absolute best. Instead of exhaustively comparing all options for the perfect choice, individuals set a minimum acceptable standard and choose the first option that meets this threshold. This approach saves time and effort, especially when resources are limited or decisions are complex. Satisficing balances the desire for a satisfactory outcome with practical considerations, acknowledging that aiming for perfection is often unrealistic in real-world decision-making.