Satisficing
A term from Herbert Simon's bounded rationality work describing the choice of the first option that meets a reasonable threshold of adequacy given real constraints on time and information, rather than searching exhaustively for an optimal choice. The estate triage memo is a satisficing tool: it produces a good-enough first read fast, rather than an optimal analysis slowly.
Defined in 2 GAGE programs, which carry 2 distinct definitions of it. The wording above is taught in Certified AI Data Governance Professional (CADGP).
How each discipline defines it
The same term does different work depending on who is using it. These are the definitions as each program teaches them, unedited.
A term from Herbert Simon's bounded rationality work describing the choice of the first option that meets a reasonable threshold of adequacy given real constraints on time and information, rather than searching exhaustively for an optimal choice. The estate triage memo is a satisficing tool: it produces a good-enough first read fast, rather than an optimal analysis slowly.
A decision strategy, from Herbert Simon's work on bounded rationality, that seeks an option clearing an acceptable bar across every constraint that matters, without further optimizing any single constraint past the point of diminishing return. The recommended default strategy for most engineering decisions under real, multi-constraint limits.
Where it is taught
The exact lessons this term appears in. The first module of every program is free with a free account.
- The first decision: your estate triage memo, and why you will revise it in shame later · Taking the Data Chair, Certified AI Data Governance Professional (CADGP)
- Making the right tradeoffs under real constraints · Engineering Thinking and Elegant Minimalism, Engineering Judgment and Professional Formation
Terms it appears with
Not an alphabetical neighbourhood: these are the terms taught in the same lessons, ranked by how often they appear together.