satisficing

Definitions

Economics

• noun a situation or policy of making satisfactory profits and maintaining an acceptable market share rather than of maximising profits at all costs

Health Economics

• (written as Satisficing)
  A version of bounded rationality. Satisficing is behaviour that attempts to achieve a minimum level of a particular objective, but not to maximize it. It has been commonly used in analysing the behaviour of firms (including hospitals), where profit, instead of being the maximand is a constraint that has to be achieved but, once achieved, enable managers also to choose other goals.

Nearby Definitions of “satisficing”

• satellite relay
• satellite telephony
• satellite television
• satire
• satisfaction
• satisficing
• satisfy
• satsivi
• satsuma
• saturated colour
• saturated fat

Contexts for “satisficing”

2 definitions in context
• Economics
• Health Economics