Satisficing and Maximizing: Moral Theorists on Practical Reason

✍ Scribed by Michael Byron

• Publisher: Cambridge University Press
• Year: 2004
• Tongue: English
• Leaves: 257
• Category: Library

✦ Synopsis

I first became interested in the notion of satisficing in my university days when I read Herbert Simon's "Sciences of the Artificial" and the idea stuck with me. He applied to the notion of an explanation. While the search for absolute truth was admirable we often stop at an explanation that is "good enough". There are excellent reasons for this such as lack of time, knowledge or an assessment that the current level of explanation is sufficient for practical utilitarian needs. The lesson I learned from this is OK to be a bit lazy and be satisfied with what you have because of diminishing returns for the effort of coming up with something better. This is contrasted with a strategy of maximizing. Think "Type A" personality - maximizing vs "Type B" satisficing.

"Satisficing and Maximizing" looks at applying this principle to morality. There are 12 essays including an introduction by editor Michael Byron. David Schmidtz introduces John Pollock's delightful dilemma of the immortal who has the only bottle of EverBetter Wine that gets tastier by the day - when should she drink it. A maximizer would say never, a satisficer would find a reasonable moment and share it with some friends. Michael Weber's "A New Defense of Satisficing". was a thoughtful excursion in the role of narrative in determining a valuation of a good life or good decision. James Dreier's look at the "Prisoner's Dilemna" and Tyler Cowen's take on economic satisficing use satisficing to explain the choices made in game theory. Michael Byron's "Could Aristotle Satisifice" which casts satisficing as an old idea, but differs from Aristotle's idea of moderation in that it is in and of itself not intrinsically virtuous. These were the most interesting excursions to me generally all of the writing is strong and worth following.

Is this the best possible treatment? No, but then, given the subject, it is good enough. ;-) It piques one's interests and I found it inspired thinking about how to apply the principles to other scenarios.

Its written at a 3rd year University level or higher so I don't recommend it to everyone. Like many philosophy books there are multiple references to previous works, terms coined by other authors for a specific purpose and at times its a bit pendantic. Recommended for philosphy students or those interested in practical application of ethical principles such as social activists, business managers, and practicing ethicists such as clergy or decision makers in business, medicine or politics.

✦ Table of Contents

Cover......Page 1
Half-title......Page 3
Title......Page 5
Copyright......Page 6
Contents......Page 7
Contributors......Page 9
Introduction......Page 13
Simon Says......Page 14
Supererogation......Page 17
Moderation......Page 18
Consequentialism......Page 20
Incommensurability......Page 22
Notes......Page 24
1 Two Views of Satisficing......Page 26
Satisficing, Moderation, and Teleology......Page 28
Virtue Ethics......Page 31
Satisficing and the Constitution of Appetitive Goods......Page 34
Plato and Satisficing......Page 36
Notes......Page 39
1. Two Kinds of Strategies......Page 42
2. When Satisficing Is Rational......Page 45
3. When Satisficing Is Not Rational......Page 50
4. When Moderation Is Rational......Page 52
5. When Seeking Optima Is Not Rational......Page 53
6. Tradeoffs Among Incommensurable Values......Page 56
7. An Infinite Regress of Perspectives?......Page 60
8. Conclusion......Page 63
Postscript: The Difference Between Satisficing and Local Optimizing......Page 64
Notes......Page 66
The Issue......Page 71
Life on a Budget......Page 73
Aristotle......Page 74
Pleasure......Page 76
First- and Second-Order Desires......Page 79
Notes......Page 82
4 Satisficing and Substantive Values......Page 83
Notes......Page 87
Satisficing versus Maximizing......Page 89
Well-Being and Time......Page 92
The Defense of Satisficing......Page 99
Satisficing and Virtue (Ethics)......Page 105
Notes......Page 111
Introduction......Page 118
Measuring What Is “Good Enough”......Page 119
The Idealizations of Preference Theory......Page 123
The Concept of Satisficing Poorly Fits the Facts......Page 127
Ends as Commitments and Limits......Page 131
The Cases Recast in Terms of Conflicting Ends......Page 135
Conclusion......Page 138
Notes......Page 139
Rational Satisficing......Page 143
What Is Utility?......Page 146
True Decision Theory......Page 148
True Decision Theory Corrects a Mistake......Page 151
First Conclusion: Against Rational Satisficing......Page 153
Foot’s Argument......Page 154
How Ethical Satisficing Might Be Different......Page 157
The Paradox of Supererogation......Page 159
Why Ethical Satisficing Makes Sense and Rational Satisficing Doesn’t......Page 161
Notes......Page 164
8 The Plausibility of Satisficing and the Role of Good in Ordinary Thought......Page 167
Some Clarification of the Subject Matter......Page 168
A Strategy for Defending the Rational Mandatoriness of Maximizing......Page 170
A Parallel Argument for Defending Consequentialism Against Nonconsequentialism......Page 174
Reasons to Resist the Argument Where Consequentialism Is Concerned......Page 176
Deploying the Nonconsequentialist Resistance Argument to Defend Mere Satisficing......Page 181
Conclusion......Page 182
Notes......Page 183
1. Introduction......Page 188
2. Right Act and Best Act in Virtue Ethics......Page 191
3. Perfectionistic Virtue......Page 193
4. Ordinary and Supreme Virtue......Page 196
Notes......Page 200
Introduction......Page 202
What Is Satisficing?......Page 204
Does Satis.cing Express Moderation?......Page 206
How Is Satisficing Related to Practical Wisdom?......Page 212
What about Antiperfectionism?......Page 216
Conclusion......Page 220
Notes......Page 221
1. Introduction......Page 225
Pragmatic, or Useful Organizing, Category......Page 227
Theory of the Consumer Under Certainty......Page 228
Theory of the Consumer Under Uncertainty......Page 229
Macroeconomics......Page 231
Theory of Finance......Page 232
Game Theory......Page 235
Experimental Economics......Page 238
Economic Imperialism......Page 239
Fixed Preferences......Page 241
Satisficing......Page 242
Computation......Page 243
4. Conclusion......Page 245
Notes......Page 246
Bibliography......Page 249
Index......Page 255