Why the best way to make a decision is often to not overthink it, writes EM_Krockow
, the consensus is slowly shifting. Satisficing may, in fact, be a practical approach for dealing with the mammoth task of making choices in a complex world.When faced with large numbers of options, a satisficing strategy offers clear benefits of reducing decision effort and speeding up the choice process. But can “good enough” choices really make you happy?
Let’s approach the questions with a little thought experiment. Imagine you are on the hunt for a new, regular breakfast cereal. You have a general preference for crunchy flakes that satisfy your sweet tooth but pack a healthy bit of fiber. You’d also like to find an affordable brand and you’d love it if they used sustainable packaging. You definitely want to avoid raisins or other dried fruit , but you are open to a hint of cinnamon or vanilla.
To choose your future go-to brekkie, you could adopt a maximizing strategy. This would involve carefully screening all the shreddies, frosties, crispies, hoops, loops, pops, and snaps in your local cereal aisle. Checking the boxes and ingredients against your preferences could easily take you hours and once you tuck in at home, you might end up disappointed.
Alternatively, if you followed a satisficing strategy, you might start by outlining a number of key criteria such as sweet cinnamon taste, whole grain ingredients, and no dried fruit. Then you’d simply pick the first box that fulfills all three conditions. The resulting choice is unlikely to be as good as a maximizer’s choice. However, you might find it still leaves you feeling happier. Here’s why: Firstly, you might find your effort was well-matched to the relative unimportance of the task.
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