, the data suggested a positive relationship with their future-oriented thinking, better money-saving habits, and concern for the future of others.
Letting machines that are essentially error maximizers
automatically build investment portfolios is not a great idea - in fact it's a terrible idea for your clients.
Second, for a small number of options, consumers who exhaustively look at all product options (maximizers
) are better off than consumers who do not consider all options and look over a smaller sample (satisficers).
Businesses managed according to the Maximizer
perspective will accept large risks, so long as they are well compensated.
Researchers believe decision fatigue leads us to overspend, overeat and suffer countless other failures of willpower; any day now, I'm sure they'll prove that maximizers
, who not only make drawn-out decisions but also remake and re-remake them, are headed straight for bankruptcy and The Biggest Loser.
are relatively undeterred by search costs was demonstrated in a study in which participants were presented with an opportunity to sacrifice time and money to gain access to more options (Dar-Nimrod, Rawn, Lehman, & Schwartz, 2009).
In particular, we show that homogeneous leagues in which all clubs are profit maximizers
dominate all other leagues; whereas, mixed leagues in which small-market clubs are profit maximizers
and large-market clubs are win maximizers
(type-I mixed leagues) are dominated by all other leagues.
"I travel two to three weeks a month to regional sales offices to work with maximizers
, top clients, and agencies.
Much economic theory, including the basic premise that humans are "rational utility maximizers
," is counter-intuitive and therefore quite the opposite of folk wisdom.
of Ridgewood, N.J., defined seven different groups, organized into three umbrella groups: traditionals, transitionals and maximizers
In particular, they build on the assumption that economic actors are maximizers