Satisficing can be more practical than maximizing from "summary" of Alchemy by Rory Sutherland
"Satisficing can be more practical than maximizing" is a concept that challenges the widely held belief that we should always aim to maximize our outcomes. The idea of satisficing suggests that rather than striving for perfection, we should instead focus on achieving outcomes that are good enough to meet our needs. This concept is based on the understanding that in many situations, the costs of trying to maximize our outcomes outweigh the benefits.
In the context of decision-making, satisficing allows us to make quicker and less stressful choices by setting reasonable goals and accepting the first option that meets those goals. This approach acknowledges that in many cases, the time and effort required to find the absolute best solution may not be worth it. By satisficing, we can free up menta...
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