Join Early Retirement Today
View Poll Results: How Do You Make Decisions? Maximizer or Satisficer
Maximizer: I Like To Figure Out and Go For Nothing But The Best 10 17.86%
Satisficer: Oh, It's Good Enough For Me 37 66.07%
Other 9 16.07%
Voters: 56. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Poll: How Do You Make Decisions? Maximzer or Satisficer
Old 10-08-2014, 02:42 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
Poll: How Do You Make Decisions? Maximzer or Satisficer

Watching the morning news and a segment referred to a Wall Street Journal article on how there are two basic styles of making decisions. One is looking for the "very best" (maximizer) and the other is "it's good enough" (satisifcer).

What style are you?

From the article:

Quote:
Psychology researchers have studied how people make decisions and concluded there are two basic styles. “Maximizers” like to take their time and weigh a wide range of options—sometimes every possible one—before choosing. “Satisficers” would rather be fast than thorough; they prefer to quickly choose the option that fills the minimum criteria (the word “satisfice” blends “satisfy” and “suffice”).
The article:

http://online.wsj.com/articles/how-y...are-1412614997

After tallying my score on that 13 question quiz, I only had a 33 out of 91 (7 times 13), so I'm pretty much a satisficer.

The news portion:

How you make your decisions can affect happiness - CBS News
__________________

__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-08-2014, 03:11 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,264
A true 'maximizer' knows how to maximize the value of his time, and recognizes when 'good enough' is truly 'good enough'.

I'm a fan of the term 'it depends'. There's a time when only the very best will do, and times when just barely good enough is fine. It helps if you can recognize the difference and adapt, rather than take a one-size-fits-all approach.

-ERD50
__________________

__________________
ERD50 is offline   Reply With Quote
Old 10-08-2014, 03:16 PM   #3
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
Quote:
Originally Posted by ERD50 View Post
A true 'maximizer' knows how to maximize the value of his time, and recognizes when 'good enough' is truly 'good enough'.

I'm a fan of the term 'it depends'. There's a time when only the very best will do, and times when just barely good enough is fine. It helps if you can recognize the difference and adapt, rather than take a one-size-fits-all approach.
That's about where I am with it too.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 10-08-2014, 03:20 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,885
I'm surprised that I went so much on the satisficer side.

That's one thing I learned from this article. Also, too, with age, as mentioned in both the news segment and article, I think folks tend to get more general, thus gravitate to satisficer.

One other surprise was that there really wasn't a difference in gender. But as I think about that, it does makes sense. Probably depends on the context.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Old 10-08-2014, 03:25 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,264
58/91 - but along with my 'it depends' statement, I had several 1,2,3s, and would have scored some zero or negative if that was 'allowed'.

-ERD50
__________________
ERD50 is offline   Reply With Quote
Old 10-08-2014, 03:31 PM   #6
Recycles dryer sheets
jetpack's Avatar
 
Join Date: Aug 2013
Posts: 317
Being on the younger side here, I went with maximizer. decisions are often very difficult for me trying to make the best move. Paralyzed by indecision sometimes.
__________________
jetpack is offline   Reply With Quote
Old 10-08-2014, 03:35 PM   #7
Moderator
rodi's Avatar
 
Join Date: Apr 2012
Location: San Diego
Posts: 8,804
I definitely landed in the mid range.

But the questions skewed towards things I don't care about (clothes, videos, etc.) I tend to be on the make a decision and get-the-heck-outta-dodge for stuff like that. But big stuff - like what to invest in, who your life partner will be, what career - even what to make for dinner... those have more impact on my life... so I tend to evaluate a little more to make the best choice.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 7%, rental income 18%
rodi is offline   Reply With Quote
Old 10-08-2014, 04:02 PM   #8
Moderator
MBAustin's Avatar
 
Join Date: Jul 2010
Posts: 4,150
I pegged myself as a maximizer and indeed scored 67 on the quiz. No surprises.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
MBAustin is offline   Reply With Quote
Old 10-08-2014, 04:18 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
I scored 50, right in the middle, but my scores for the questions were all over the map. I analyze lots of data and take more time over decisions that are important to me or are irreversible, but not over little things.
__________________
Meadbh is offline   Reply With Quote
Old 10-08-2014, 04:23 PM   #10
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,424
While working, my choices were mostly "good enough". Time was too precious to waste looking at options, once something met the need it was decided.

Now, with all the information available on the interwebs it is easy to research endlessly, and I happen to have more free time to do just that. Not on everything, however, just the little things that don't matter so much.
__________________
MichaelB is offline   Reply With Quote
Old 10-08-2014, 04:24 PM   #11
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,037
I got 47. I don't agonize over things that don't matter, but I seek the very best outcome for things that do.
__________________
FIREd is offline   Reply With Quote
Old 10-08-2014, 04:43 PM   #12
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
37. Some things matter a lot, others not so much.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 10-08-2014, 04:46 PM   #13
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,078
I can't decide if I want to take the test or not...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 10-08-2014, 04:53 PM   #14
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
Decisions is hard...
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 10-08-2014, 06:12 PM   #15
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,982
Quote:
Originally Posted by ERD50 View Post
A true 'maximizer' knows how to maximize the value of his time, and recognizes when 'good enough' is truly 'good enough'.

I'm a fan of the term 'it depends'. There's a time when only the very best will do, and times when just barely good enough is fine. It helps if you can recognize the difference and adapt, rather than take a one-size-fits-all approach.

-ERD50
Other than consulting my magic eight ball, I agree with this.
__________________
Doing things today that others won't, to do things tomorrow that others can't. Of course I'm referring to workouts, not robbing banks.
DFW_M5 is offline   Reply With Quote
Old 10-28-2014, 12:30 PM   #16
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
I scored a 70 out of 91. No surprise at all to me! I certainly never agonize over decisions, but I do thoroughly research and think things through before I make a decision. When I was just a little kid, my folks and grandfolks would give us kids a nickel along with the sage advice "don't go out and spend on just any old thing...wait until you find what you really want". I've carried that advice with me all of my life. And the other thing that I learned, was from Stephen Covey....."important decisions are seldom urgent, and urgent decisions are seldom important". Granted, there are definitely exceptions to that, but not very often.
__________________
Goonie is offline   Reply With Quote
Old 10-28-2014, 01:24 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,401
I did not take the test. It would take too much time, and I already know who I am.

I decided to buy my 2 present homes very quickly. In one case, I was not even looking, but happened to see it on the market, and wanted it. In the 2nd case, I looked for only 2 days till I saw what I wanted. In both cases, I paid close to asking price, and did not bargain hard.

My last new car, I did not even spend time to do research. I hated the process of buying a car, so walked into the dealership when I needed one, and they had a SUV on a special sales. Deal!

Well, sometimes it worked out. My homes, I am still happy with, and do not have 2nd thoughts about the decisions. The car, I later found out that I could have had something more suitable for my wife if I spent time to see what else was on the market. But I still have that car.

So, when it comes to something of less value than the homes or vehicles, I am not going to spend more time agonizing over it. Either something works, or it doesn't, like my clothes.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 10-28-2014, 01:29 PM   #18
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
59 score, though consider myself in a both/and/but category.
__________________
Options is offline   Reply With Quote
Old 10-28-2014, 06:48 PM   #19
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,137
How my young wife shops for clothes -- "I'd like a new blouse and skirt. Let's go to this department store and look at the ones they have. Okay, now lets go to this other store and try every single one of theirs. Finally, let's go back to the first store and buy the second thing I tried on."

How I shop for clothes -- "My blue dress shirt just disintegrated. Let's go to a store where they sell blue shirts and walk directly to that section of the store. Oh look, there's a blue dress shirt. Let's buy it."


Perfect is the enemy of good enough.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 10-28-2014, 06:54 PM   #20
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
Quote:
Originally Posted by Gumby View Post
How my young wife shops for clothes -- "I'd like a new blouse and skirt. Let's go to this department store and look at the ones they have. Okay, now lets go to this other store and try every single one of theirs. Finally, let's go back to the first store and buy the second thing I tried on."
Is DW her sister? She does the same thing.

My clothes-buying process is identical to yours.
__________________

__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Rental Properties - Decisions, Decisions... njonge01 Other topics 12 09-03-2011 09:27 PM
Decisions decisions....... Dawg52 Health and Early Retirement 69 07-21-2011 04:04 PM
New Doc, decisions, decisions. ls99 Other topics 17 02-19-2011 08:01 AM
59 Year Old: Decisions,Decisions Archman Hi, I am... 32 02-06-2011 09:39 PM
Decisions decisions - $can I leave work$ ?? mippy56 Hi, I am... 9 11-17-2008 09:16 PM

 

 
All times are GMT -6. The time now is 05:19 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.