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The ultimate satisfice: Is irrational behavior good for markets?

from CFA Institute's Enterprising Investor

For a number of years earlier in my career, I labored under a misconception about the word “satisficer.” In my mind, “satisficer” was a sociologist’s term for what happens when you cross a slacker with a well-adjusted productive person, yielding an employee who enjoys many of the benefits of productive normalcy without the pressure of actually having to produce much. more

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