Are You a Maximiser or a Satisficer?

“I’m no maximiser. I don’t feel the need to collect points and seek out the best deal,” a friend said to me recently.

It’s true: some of us need more reassurance that we’re getting the best deal than others. But what exactly does that mean in practice? And does it matter whether we seek the best solution or embrace whatever does the job well?

The concept of maximisers and their counterparts, “satisficers” (the term merges “satisfy” and “suffice”) was first created back in the 1950s by Nobel Prize-winning psychologist Herbert Simon. “Maximising” can be explained as choosing the option with the highest expected returns, whereas “satisficing” means choosing the alternative that is “good enough”.

How do Maximisers and Satisficers Make Decisions?

Imagine two people, each on a mission to buy a slow cooker.

One, a maximiser, spends weeks researching the best ever slow cooker and buys it on a website that gives them loyalty points, with a credit card that gives them reward points.

The satisficer buys a slow cooker that cooks food slowly from a nearby shopping outlet with the payment method they routinely use.

Both accomplish their goal but each of them makes different decisions, takes different amounts of time over those decisions and even pays differently for their products.

A research study by Ipsos found that the UK is a nation of “satisficers” rather than “maximisers”, with one in two (51%) satisfied with their lot, compared to fewer than one in three (30%) who want to achieve more. Meanwhile US psychologist Barry Schwarz puts the American population of maximisers at just 1 in 10.

A rarer breed, maximisers are predicted to be more successful, yet less happy with their lot. Barry Schwarz explains: “As a general rule, maximisers do better, but feel worse. They get better jobs but are less satisfied with the jobs they get.”

As always, no personality type is clean-cut. We each show maximising and satisficing tendencies to different degrees. More often than not, we’re maximisers in categories we’re heavily invested in: either because of the high purchase price-tag or because we’re passionate about it.

Looking at reviews can tell us a lot about someone’s maximising or satisficing tendencies. Here are two Sephora reviews for the same shampoo. Both give 3 out of 5 stars:

“Nice, pretty good, does the trick.”

“The shampoo itself… works well. The scent… divine (and I am somebody who generally does NOT like scents). The refill arrived only 3/4 full — see picture. Overall a good product, just very pricey for what you get.”

The first individual finds the product “good enough”. The second individual assesses the product on multiple dimensions and finds it good, but lacking in one important aspect: value for money. Reviewer 1 is ‘satisficed’, but for reviewer 2, the product falls short of their maximising expectations.

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Am I a maximiser?

Think back to your last three purchases from three different categories. For each, ask yourself the following:

How significant was the purchase for me?

For how long did I research my options?

How many alternative products did I consider?

Did I consider multiple sites or stores before buying?

If you researched for multiple hours or explored several alternatives for a “low significance” purchase, you may show maximising tendencies in that category.

If you considered multiple sites: why? Was it to check product price or credit card points? This could indicate another maximising tendency.

For high-significance decisions and purchases, satisficers will also check out multiple options and compare prices, but they will still come to a decision more quickly than maximisers.

Ellen Peters, decision-making expert and director of the University of Oregon’s Center for Science Communication Research explains: “with important choices — buying a house, even choosing a job — it’s better to veer towards maximising. For unimportant choices — buying a breakfast cereal, where to go for coffee — satisficing generally works quite well.”

Note to self to stop overthinking breakfast cereal choices.

Why does it matter to us?

Identifying our maximising or satisficing tendencies helps us learn to interrupt our decision-making patterns.

For satisficers making important purchases, interrupting the instinct to make a snap decision and drawing up pro-and-con lists or taking time to reflect might support a better outcome in the long-run.

For maximisers, Stephanie Preston, Professor of Psychology at University of Michigan advises leaning into maximising tendencies for big decisions only, and avoiding the temptation to dwell too long on other potential outcomes: ”after making a careful choice, you have to return right away to thinking like a satisficer, because otherwise you will still be unhappy with your decision, however good.”

What about at work?

Learning to spot the maximising or satisficing tendencies of colleagues and customers can improve our working relationships.

When making a decision at work, maximisers need to see all the options and be given time to decide, to be sure they’re not missing something and they’re making the best possible choice. Satisficers, on the other hand, may need to be reminded of the implications for each option before they make a quick decision.

When it comes to team perks and rewards, the maximiser may need to be given clear guidance on budget, so they know where the ceiling is (and can do their best to hit it!) The satisficer might need reminding to treat the team to something special, rather than making do with the minimum sufficient option.

Customers, too, have different behaviours depending on their maximising or satisficing tendencies. Where maximisers need to be reassured that they’re getting the very best value for money, satisficers need to be reassured that they’ve done the job they set out to do.

If both are choosing a luxury hotel for their next trip, maximisers will want to know: can I redeem my loyalty points? Is this really the best option for my budget? Meanwhile, satisficers will focus on the specific job they need to do: is this hotel in a central location? Will I be able to check in easily if I arrive late?

Satisficers’ needs may seem more straightforward at first glance, but they are highly varied, as they depend on what the customer wants to accomplish. Companies must balance the benefits they offer to appeal to both tendencies, making it clear how their product delivers what the customer wants as well as how it offers best value for money.

Whether you’re a maximiser who needs a little more satisficing to be content with their decisions or a satisficer who needs to borrow a maximiser approach for critical decisions, understanding our own and others’ tendencies helps us discover new ways to navigate decision making.

I hope you enjoyed this read! These articles are now monthly. If you’d like to hear from me weekly, I invite you to join readers who enjoy my 2-minute mid-week newsletter.