A term championed in the 1950s by the professor, author, and researcher Herbert A. Simon captures the essence of this phenomenon: satisficing. It’s the combination of the words “satisfy” and “sufficing,” and means selecting an option that is sufficient to meet enough of our ongoing expectations. Simon explained that when dealing with limited resources and an environment of uncertainty, satisficing is sometimes a reasonable approach because our limited resources prohibit us from pursuing every possibility. Therefore, we settle for the best available option that meets most of our requirements.
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