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mattbrowne's avatar

Satisficers and maximizers - Do you look for the best product/solution or a product/solution which is good enough?

Asked by mattbrowne (31732points) September 24th, 2009

From Wikipedia: Satisficing (a portmanteau of “satisfy” and “suffice”) is a decision-making strategy that attempts to meet criteria for adequacy, rather than to identify an optimal solution. A satisficing strategy may often be (near) optimal if the costs of the decision-making process itself, such as the cost of obtaining complete information, are considered in the outcome calculus.

The Paradox of Choice – Why More Is Less is a 2004 book by Barry Schwartz. In the book, Schwartz argues that eliminating consumer choices can greatly reduce anxiety for shoppers. “Autonomy and Freedom of choice are critical to our well being, and choice is critical to freedom and autonomy. Nonetheless, though modern Americans have more choice than any group of people ever has before, and thus, presumably, more freedom and autonomy, we don’t seem to be benefiting from it psychologically.”

Schwartz finds that when people are faced with having to choose one option out of many desirable choices, they will begin to consider hypothetical trade-offs. Their options are evaluated in terms of missed opportunities instead of the opportunity’s potential. Schwartz maintains that one of the downsides of making trade-offs is it alters how we feel about the decisions we face afterward, as it affects the level of satisfaction we experience from our decision.

http://en.wikipedia.org/wiki/The_Paradox_of_Choice:_Why_More_Is_Less

So when you shop for, say an MP3 player, do you compare almost all of them? Do you feel bad when days later you find another player which is superior and less expensive? What about cars, clothes, shoes, restaurants?

I think all people, even when being satisficers in general, have “sore spots” turning them into maximizers. Mine include high-quality loudspeakers in my living room.

What are yours? Overall, are you a satisficer or a maximizer? How do you feel about choice overload? How do you handle it?

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10 Answers

DrBill's avatar

I compair them all, and go for the best value, which includes both cost and quality.

janbb's avatar

For most things, I’m “good enough.” There are a few things I’m fussy about; comfortable shoes, quality writing, film editing, really good pastries, fresh tasty fruit, packing.

cwilbur's avatar

It depends on what I’m choosing.

If it’s Friday night and I’m looking at a cooler full of microbrews, I’m less interested in perfect and more interested in good enough.

If I’m shopping for a stereo component that I expect to last 10 years, I’m willing to spend more time picking out the best one.

The_Compassionate_Heretic's avatar

Best.
I’m generally looking for more performance than merely “it gets the job done”.

kevbo's avatar

I’m totally a maximizer, and I will probably die while conducting online research a purchase.

drdoombot's avatar

I’m a maximizer as well. I almost never purchase anything, even books, before extensive research.

Sometimes I am forced to maximize within a price range, so I might not be getting the best product out there. An example is a telescope I was looking at years ago. It wasn’t the best telescope I could buy, but at the $300 range, you could not find much better.

cyndyh's avatar

It depends on the thing and how important its job is. If it fits the criteria I have for the thing then I’m good with it.

My coffee maker makes coffee. A reusable filter fits in it. It makes up to twelve cups at a time. It was reasonably priced. Good enough. I got it home and it works. Why would I care about the price of coffee makers anymore when mine works?

We recently bought a yogurt maker. Oh, look. That one’s easy to get extra little jars for it and it comes with two sizes of jars. Reasonably priced and we’ll actually save on yogurt. Order it. I no longer care about what’s available in the yogurt making world. I’m doing other things which includes making yogurt. :^>

I like having the choices because what’s more important to me might not be to you. There’s no one clearly best thing for everyone. There are almost always trade-offs. But once I’ve made my choice, so be it.

If I do happen to notice that the thing I chose just got cheaper by a lot right after I bought it I might joke about it and shake my fist and say, “damn you, gadget gods”, but it doesn’t really bother or stress me.

YARNLADY's avatar

Maximizer above a certain minimum price. When it costs more to keep looking than to simply ‘settle’, I won’t bother.

mattbrowne's avatar

@YARNLADY – That would qualify you as a satisficer. Some research indicates that satisficers live a healthier life.

wundayatta's avatar

Thank God (or Al Gore) for the internet! It makes it so much easier to get information about products and expert opinions and information about quality and prices. It’s much easier to be a maximizer than it used to be.

Still, I’m not sure whether I’m more one than the other. Right now, I’m in the market for a few computers or netbooks, and I want low prices and high performance, but in a way, it’s all academic. I’m not allowed to spend money at the moment, so I can research to my heart’s content.

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