Maximizing and Satisfying

Herb Simon distinguished between maximizing and satisficing. Maximizing seeks the best option, while satisficing seeks a good enough option. Simon argued that humans lack the cognitive resources to successfully maximize in a world with abundant choices. Satisficers aim for good enough and are open to noticing better alternatives by accident. People differ in their inclination towards maximizing or satisficing. Maximizers tend to have higher standards and achieve better outcomes objectively, but they feel worse about the process of choosing and the outcomes because their standards keep rising. Satisficers, on the other hand, may achieve worse outcomes objectively, but they feel better subjectively about their decisions. Studies have shown that maximizers tend to have higher paying jobs but also higher levels of pessimism, depression, anxiety, and stress compared to satisficers. The subjective experience of decisions is as important, if not more important, than the objective quality of the outcomes.