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The way of making choices: Maximizing and satisficing and its relationship to well-being, personality, and self-rumination

Lenka Vargová, Ľubica Zibrínová and Gabriel Baník

Judgment and Decision Making, 2020, vol. 15, issue 5, 798-806

Abstract: There is a lively debate about the effect of maximizing and satisficing tendencies on well-being. The question is, whether maximizing and satisficing have an adaptive or maladaptive effect on well-being. There are also issues regarding the conceptualization and measurement of maximizing and satisficing tendencies. In a sample of 514 subjects from the general population in Slovakia, a two-component model of maximizing was examined. Satisficing tendency was measured as a separate construct. The results show the usefulness of a two-component model (maximizing as a strategy and maximizing as a goal) in measuring maximizing tendency. Maximizing as a strategy (measured as alternative search) turned out to be maladaptive (positively related to depression and negatively related to happiness), whereas maximizing as a goal (measured as high standards) had no maladaptive effect (no relation with well-being). In addition, the two components were differently associated with personality factors, which strengthens the need to distinguish between them. However, the satisficing tendency measured separately from maximizing tendency was not related to anything which raises a question about the conceptualization and validity of this tendency. The results of the current study, therefore, indicate that the (mal)adaptive effect of these tendencies depends on their conceptualization as well as on how these tendencies are measured, and also on their different relationship with personality factors. However, results also point to the importance of considering the cultural context that may have an effect on the relationship between maximizing and well-being. Therefore, the results may vary due to different cultures.

Keywords: two-component model of maximizing; satisficing; depression; happiness; personality traits; self-rumination (search for similar items in EconPapers)
Date: 2020
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Handle: RePEc:jdm:journl:v:15:y:2020:i:5:p:798-806