A satisficing decision maker ________.
A) looks for complete information
B) seeks solutions that are satisfactory and sufficient
C) identifies all the relevant options to solutions
D) analyzes all options in an unbiased manner
E) chooses the option with the highest utility

Question

Quizplus · Accepted Answer

A satisficing decision maker seeks solutions that are satisfactory and sufficient rather than aiming to identify the optimal solution. They may not look for complete information or analyze all options in an unbiased manner, but rather prioritize finding a solution that is practical and acceptable. They may not identify all relevant options, but rather stop searching once they find a solution that meets their criteria. Choosing the option with the highest utility is a characteristic of a maximizing decision maker.

A Satisficing Decision Maker ________