"His idea is that **if we were to optimize at every step in life, then it would cost us an infinite amount of time and energy**. Accordingly, there has to be in us an approximation process that stops somewhere. Clearly he got his intuitions from computer science—he spent his entire career at [[Carnegie-Mellon University]] in [[Pittsburgh]], which has a reputation as a computer science center. **“Satisficing” was his idea** (the melding together of satisfy and suffice): **You stop when you get a near-satisfactory solution**. Otherwise it may take you an eternity to reach the smallest conclusion or perform the smallest act. **We are therefore rational, but in a limited way: “boundedly rational.**" --- **Tags** -- [[quotes]], [[boundedly-rational]], [[satisficing]], [[making-decisions]], [[efficiencies]], **Source** -- [[202410121132 - B - Fooled by Randomness]]