What Makes a Good Decision? Robust Satisficing as a Normative Standard of Rational Decision Making.

The article discusses and proposes "robust satisficing" as an alternative to utility maximizing and as normative standard for rational decision making where probabilities can not be meaningfully specified. It argues that instead of seeking to maximize the expected value or the utility of the decision outcome, "robust satisficing" maximizes the robustness to uncertainties of a satisfactory outcome. It also explores conditions where "robust satisficing" is more appropriate than utility maximizing.