satisficing
/ˈsætɪsfaɪsɪŋ/
adjective
Origin
English
satisfy + suffice — a portmanteau coined to describe heuristic decision-making
Overview
Meaning Now
- A decision-making strategy that aims for an acceptable or adequate result rather than the optimal one.
- The act of choosing the first available option that meets a minimum set of criteria.
Literal older meaning
satisfying + sufficing
Language path
Latin → English
Earliest form
satisficing
Earliest period
1956
Journey
The term was coined by Herbert A. Simon to challenge the classical economic theory of the 'rational actor' who always makes perfectly optimal choices. Simon argued that humans have limited information and cognitive capacity, leading them to 'satisfice' rather than optimize.
Evolution
- Late Latin
satisfacere
“to satisfy”
- Latin
sufficere
“to suffice”
- Modern English (1956)
satisficing
“decision-making targeting adequacy over optimality”
Coined by Nobel laureate Herbert A. Simon.
Connections
Word parts
satisfy
root
to fulfill needs
suffice
root
to be enough
Explore next
Related to satisficing
External references use DefinedTerm semantics.