Concept information
Preferred term
satisficing behavior
Definition
- A decisionmaker is said to exhibit satisficing behavior when he or she chooses an alternative that meets one or more specified criteria, but that need not be optimal with respect to any particular set of preferences or objectives. For example, a chief executive officer might hope to achieve an acceptable performance on the dimensions of revenue growth, cost stability, customer and employee satisfaction, and risk management without seeking to attain the highest possible level of expected after-tax profits. [Source: Encyclopedia of Governance; Satisficing Behavior]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/satisficing_behavior
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