Satisfice

1560, Northern alteration of satisfy, probably influenced in form by Latin satisfacere.

Full definition of satisfice

Verb

1. (obsolete, transitive) To satisfy.

satisfysuffice, coined in 1956 by Herbert Simon.

Verb

1. (social science, of human behavior, intransitive) To make a choice that suffices to fulfill the minimum requirements to achieve an objective, without special regard for utility maximization or optimization of one's preferences.
• 1956, Simon, H. A., Rational choice and the structure of the environment, Evidently, organisms adapt well enough to ‘satisfice’; they do not, in general, ‘optimize’.