Satisficing and Maximizing

This collection of essays explores two competing views of practical rationality. How do we think about what we plan to do? One dominant answer is that we select the best possible option available. However, a growing number of philosophers would offer a different reply. Since we are not equipped to maximize, we must often choose the next best alternative--one that is no more than satisfactory. This strategy choice is called "satisficing" (a term coined by the economist Herb Simon).

Introduction Michael Byron; 1. Two views of satisficing Michael Slote; 2. Satisficing as a humanly rational strategy David Schmidtz; 3. Maxificing: life on a budget; or, if you would maximize, then satisfice Jan Narveson; 4. Satisficing and substantive values Thomas Hurka; 5. A new defense of satisficing Michael Weber; 6. Satisficing: Not good enough Henry S. Richardson; 7. Why ethical satisficing makes sense and rational satisficing doesn't James Dreier; 8. The plausibility of satisficing and the role of good in ordinary thought Mark van Roojen; 9. Satisficing and perfectionism in virtue ethics Christine Swanton; 10. Could Aristotle satisfice? Michael Byron; 11. How do economists think about rationality? Tyler Cowen.