Satisficing

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Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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Satisficing - definition

Satisficing is a concept that relates to the behaviour of firms, and was introduced by Herbert Simon in 1956.  Neo-classical economic theory assumes that firms attempt to maximise profits, but the ideas associated with satisficing questions this assumption. A satisficing firm is not attempting to maximise anything, but it is trying to achieve an acceptable level of a single objective or an acceptable mix of other objectives, of which profit is only one. It represents a solution to the problem of not being able to establish an optimal decision regarding business decision-making cannot be determined.


WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Savings ratio

Savings ratio falls to lowest level on record.

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