Satisficing: the Decision Making Hack That Changed My Life
I wonder how I ever survived without knowing this mental model!
Every day we make so many small low-impact decisions. Learning this mental model called “satisficing” changed how I go about making those decisions. I’m not exaggerating when I say that it’s been life changing for me!
I’m probably a little more anxiety inclined than most, and learning about satisficing has made me more effective, and life has been more simple and enjoyable.
What is satisficing?
The term “satisfice” was coined by a guy called Herbert Simon in 1956 by combining the words satisfy and suffice.
I like this definition:
Satisficing is a decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution.
Why would you want to only aim for a satisfactory result?
Aiming for the optimal result (maximizing) on every single decision in our day can waste energy, resources and definitely time! Also, more effort spent doesn’t necessarily mean you’ll get a more optimal result — there can be diminishing returns on effort.
