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Satisficing

wikipedia.org
Because maximization is unrealistic and usually impossible in everyday life, maximizers often feel regretful in their post-choice evaluation.
Satisficing - wikipedia.org - Your Highlight Location 61-62 | Added on Tuesday, 20 August 13 00:05:42
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The distinction between satisficing and maximizing not only differs in the decision-making process, but also in the post-decision evaluation. Maximizers tend to use a more exhaustive approach to their decision-making process: they seek and evaluate more options than satisficers do to achieve greater satisfaction. However, whereas satisficers tend to be relatively pleased with their decisions, maximizers tend to be less happy with their decision outcomes. This is thought to be due to limited cognitive resources people have when their options are vast, forcing maximizers to not make an optimal choice.
Satisficing - wikipedia.org - Your Highlight Location 57-61 | Added on Tuesday, 20 August 13 00:05:34
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human beings lack the cognitive resources to optimize: we usually do not know the relevant probabilities of outcomes, we can rarely evaluate all outcomes with sufficient precision, and our memories are weak and unreliable.
Satisficing - wikipedia.org - Your Highlight Location 15-16 | Added on Tuesday, 20 August 13 00:03:43
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