Do 'maximisers' or 'satisficers' make better decisions?

Curated from: bbc.com

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Maximisers vs Satisficers

There are two main types of decision-makers:

Maximisers: They want to ensure they get the most out of their choices.
Satisficers: They tend to adopt a 'good enough' approach.

Each one has its benefits and drawbacks. Understanding which one you are can help improve your choices.

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Maximisers: make it perfect

A maximiser will weigh choices carefully to find the best one. On paper, their decisions look well-informed, logical and efficient.

But there are drawbacks. They have trouble making the perfect decision and take a very long time finding the best solution. Once they do find a solution, they may experience regret about their choice.

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Satisficers: It's good enough

Satisficers are people who prefer to make decisions quickly by weighing fewer choices and then go with their gut. They opt for what's acceptable, not for the 'best' option.

A drawback is that they may not get the 'best' outcome that will give them the maximum return.

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Maximisers and Satisficers: Most people are a combination

Most people fall somewhere between maximiser and satisficer. The perfect mix would be to satisfice most of the time and only maximise a decision when the stakes are high, such as buying a house or choosing a job.

However, after the choice, you have to return to thinking like a satisfice to prevent feeling dissatisfied with your decision.

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What to consider as a maximiser and a satisficer

Satisficers: People who are too impulsive should avoid hasty decisions. They should spend more time thinking about the decision and the pros and cons of each possible outcome.
Maximisers: If you find yourself maximising too much, try to limit some of your options.

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