Looting is an informal term for drawing cards and then discarding cards, allowing a player to improve card quality while stocking the graveyard. The name comes from Merfolk Looter, one of Magic's classic examples of the effect.
Frantic Search draws and discards while untapping lands, while Thrill of Possibility reverses the order by discarding as a cost before drawing. Reanimation, madness, flashback, and graveyard decks all benefit from choosing what gets discarded.