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Doing Better but Feeling Worse: Looking for the "Best" Job Undermines Satisfaction

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Abstract

Expanding upon Simon's (1955) seminal theory, this investigation compared the choice-making strategies of maximizers and satisficers, finding that maximizing tendencies, although positively correlated with objectively better decision outcomes, are also associated with more negative subjective evaluations of these decision outcomes. Specifically, in the fall of their final year in school, students were administered a scale that measured maximizing tendencies and were then followed over the course of the year as they searched for jobs. Students with high maximizing tendencies secured jobs with 20% higher starting salaries than did students with low maximizing tendencies. However, maximizers were less satisfied than satisficers with the jobs they obtained, and experienced more negative affect throughout the job-search process. These effects were mediated by maximizers' greater reliance on external sources of information and their fixation on realized and unrealized options during the search and selection process.

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... Distinguishing maximizers from satisficers, in particular, helps the companies to get insight into the individual cognitions and sentiments that support the dispositional tendency to optimize. Irrational expectations, indecision, perfectionism, unhappiness with the choice outcome, and sensitivity to regret are common characteristics of maximizers (Diab, Gillespie, & Highhouse, 2008;Iyengar, Wells, & Schwartz, 2006;Lai, 2010;Polman, 2010;Schwartz et al., 2002). Projecting customers' styles in e-commerce enables practitioners to adapt the web in realtime and manage customer relationships during and after the purchase, reducing anticipatory and post-purchase regret (Ma & Roese, 2014;Shehu, Papies, & Neslin, 2020) and increasing decision fulfillment and well-being. ...
... Table 1 here Most studies use the maximization scales as continuous measures to link the maximizing tendency and various psychological constructs. These studies show surprising associations between maximizing propensity and constructs such as happiness, regret, anxiety over missed opportunities, enhanced expectations, and less satisfaction with the decision-making performance (Diab et al., 2008;Iyengar et al., 2006;Lai, 2010;Polman, 2010;Schwartz et al., 2002). Other studies show an association between maximizing tendency and pre-purchase browsing behavior, increased decision time pressure, and increased probability to change the initial timeconstrained choices if allowed to do so (Chowdhury et al., 2009). ...
... Some studies establish a summed Maximization Scale to separate maximizers from satisficers and artificially transform the summated scale into a binary variable using the median (Iyengar et al., 2006;Karimi et al., 2018). ...
Article
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Decision-making styles have been studied in non-situational settings using the classical survey instrument. This study proposes a novel methodology for identifying decision-making styles in a real-world purchasing situation using only behavioral data and machine learning. We base our analysis on a two-week sample of 1,347,854 clickstream sessions from an e-commerce company and extract a series of parameters to infer the search goal, strategy, and decision difficulty. We implement a range of unsupervised algorithms, and we identify and validate three internally stable classes of decision-makers. One category corresponds to the classical style of satisficers; the other two subcategorize the maximisers' classical style. The customer’s entry channel preferences and movement patterns provide compelling support for the style's predictive validity. This study contributes to research and practice by proposing a new methodology to recognize the customer decision style in the e-commerce setting.
... Consequently, it presents a potentially positive consequence of conspicuous consumption; the desire to acquire and display high-end products and services in the future appears to drive some consumers' intentions to save more, even towards longer-term saving goals like retirement. Finally, the results of this study help to reconcile prior literature that has offered mixed possibilities regarding the relationship between maximizing and temporal orientation (e.g., Besharat et al., 2014;Carrillat et al., 2011;Iyengar et al., 2006). By finding that maximizing increases the likelihood of pursuing a future goal involving an outcome that affects social standing, but not when it involves an outcome that does not, the present work is the first to identify a potential moderator of maximizers' temporal orientation. ...
... As a result, they strive to enhance their social status through a variety of means, such as conspicuous product purchases (Brannon & Soltwisch, 2017;Weaver et al., 2015). Maximizers' focus on obtaining superior social outcomes appears to motivate them towards future goals that require a great deal of planning and preparation (Iyengar et al., 2006;Polman, 2010). For instance, Iyengar et al. (2006) demonstrated that maximizers obtain better jobs and higher starting salaries than satisficers coming out of college. ...
... Maximizers' focus on obtaining superior social outcomes appears to motivate them towards future goals that require a great deal of planning and preparation (Iyengar et al., 2006;Polman, 2010). For instance, Iyengar et al. (2006) demonstrated that maximizers obtain better jobs and higher starting salaries than satisficers coming out of college. The authors posited that maximizers' superior performance on the job-market could be partially explained by their greater tendency to compare their own job search results with those of their peers. ...
Article
Prior work has established that maximizing tendencies influence purchase choice behaviors (e.g., maximizers take longer to browse product assortments and are more likely to choose 'compromise' products). By contrast, the present research investigates differences in saving intentions associated with maximizing tendencies. Three studies demonstrate that maximizing increases saving intentions in a variety of scenarios constituting both short-and long-term time horizons. Underlying this effect, maximizing is associated with a greater desire to accumulate money to afford the future purchase of status-enhancing products and services. Supporting this theoretical process, the effect of maximization is attenuated in a scenario where the purpose of saving is for future security, as well as in a scenario where the purpose of saving is for a budget retirement lifestyle. These findings are the first to implicate social comparison motives in driving consumer saving decisions. They also have implications for policymakers and practitioners looking for ways to motivate individuals to save more.
... Simon (1955) proposed that people cannot fully realize maximization due to the constraints of human cognitive abilities and the complexity of decision-making situations. These constraints cause substantial individual differences in maximization when people make decisions Jie Feng fj1218120@hotmail.com 1 might further induce them to distrust their finalized choices (Iyengar et al., 2006). Rim (2017) observed that individuals' maximization scores were negatively related to their confidence ratings. ...
... Consent to participate Informed written consent was obtained from relatively good enough outcomes (Iyengar et al., 2006;Lai, 2011;Sparks et al., 2012). ...
... The insular cortex is an integral brain hub connecting different functional systems underlying sensory, emotional, motivational, and cognitive processing (Gogolla, 2017). Previous research has demonstrated that maximizers seek the "best" option across decisions and report lower life satisfaction and happiness and greater regret and depression (Iyengar et al., 2006;Polman, 2010). The insula is involved in processing emotional experiences (Gogolla, 2017) and exhibits altered functioning and structural characteristics across different forms of anxiety disorders (Kawaguchi et al., 2016). ...
Article
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Maximizing tendency is a central decision-making concept that has increasingly drawn attention from the scientific community. It refers to individuals’ predisposition to look for the best option instead of settling for something that merely passes an internal threshold of acceptability. Although this maximizing strategy intuitively increases individual benefits, it also has been linked to various negative outcomes, including decreased well-being and low life satisfaction, and it varies considerably across populations. However, the neuroanatomical characteristics underlying this heterogeneity remain poorly understood. To address this knowledge gap, a 13-item Maximization Scale and magnetic resonance imaging technique were respectively used in this study to estimate individual maximizing tendency and structural morphological information on a sample of healthy adults (n = 69). Furthermore, voxel-based morphometry (VBM) analysis was conducted to investigate the associations between gray matter volume (GMV) and maximizing tendency through univariate and multivariate pattern analysis (MVPA). Univariate analysis did not determine an association between maximizing tendency and whole-brain GMV; by contrast, MVPA revealed that maximizing tendency could be successfully predicted by the GMVs of the right inferior frontal gyrus (IFG), right insula, and right cerebellum. These findings suggest the critical role of the morphological characteristics of the cortical-subcortical circuitry in individuals’ maximizing tendency.
... Notably, although past work has frequently explored the impact that others have on maximizers as decision makers (Iyengar, Wells, and Schwartz 2006;Schwartz et al. 2002;Weaver et al. 2015), maximizing's broader social ramifications have rarely been considered (see Goldsmith, Roux, and Ma 2018 for an exception). We add to this nascent literature by examining maximizing's interpersonal impact on the information that consumers share with others. ...
... Hence, their efforts to feel better ironically result in their feeling even worse, lowering their overall wellbeing. Although previous work has noted maximizing's potential negative impact on wellbeing (Chowdhury, Ratneshwar, and Mohanty 2009;Dar-Nimrod et al. 2009;Polman 2010), such research has focused on feelings of post-decision regret as the driver of this effect (Iyengar et al. 2006;Schwartz et al. 2002). Our research is the first to examine the feelings of guilt generated in the process of diminishing post-decision regret, which reduce wellbeing even further, resulting in a downward spiral of wellbeing for maximizers. ...
... Once activated, maximizing is a highly self-relevant goal, which promotes a persistent fixation on the best (Olson and Ahluwalia 2017;Schwartz et al. 2002). Consequently, maximizers are known to invest substantial effort into searching for the best outcome, spending more time considering more information about more alternatives than non-maximizers (Dar-Nimrod et al. 2009;Iyengar et al. 2006;Ma and Roese 2014). ...
Article
Past research generally finds that if consumers share word of mouth about past purchases with others, the valence of the information tends to be congruent with actual perceptions. Thus, a negative purchase experience should elicit negative (vs. positive) word of mouth. We examine how a goal of attaining the best possible outcome, or maximizing, may alter this tendency. Drawing on prior work demonstrating that consumers may view their own personal failures more favorably through relative comparisons with others faring similarly or worse, we show that maximizing increases consumers’ propensity to share favorable word of mouth about unsatisfactory purchases, in an effort to encourage others to make the same poor choices, as they seek to enhance the perceived relative standing of and post-purchase feelings toward their own unsatisfying outcomes. We further show that consumers particularly exhibit this behavior when sharing with psychologically close (vs. distant) others, as comparisons with close others are especially relevant to relative standing. Finally, we consider the downstream consequences of such behavior, finding that when consumers successfully persuade close others to make the same bad decisions, they feel better about their own outcomes, but are also burdened with feelings of guilt that erode their overall wellbeing.
... A maximizer tends to seek the best option in a decision situation, spending a great amount of effort, and delving into the alternative search of all possibilities to find the very best option in a decision situation, while a satisficer will stop the decision process and accept goods that are good enough to satisfy the certain individual threshold (Schwartz et al., 2002). A large number of studies have found that individuals with a maximizing decision-making style tend to experience more negative emotions and consequences in the decisionmaking process (Schwartz et al., 2002;Iyengar et al., 2006;Kim and Miller, 2017;Newman et al., 2018) which is termed as the "Maximization Paradox" (Dar-Nimrod et al., 2009). However, most Frontiers in Psychology | www.frontiersin.org 2 October 2021 | Volume 12 | Article 708117 studies have addressed association between subjective well-being (SWB) and maximization. ...
... A body of studies have found that maximizers tend to experience negative emotions (Schwartz et al., 2002;Iyengar et al., 2006;Kim and Miller, 2017) in the decision-making process, that is, the maximization paradox (Dar-Nimrod et al., 2009), either in the general domain or in the specific domains. For example, in a general decision-making domain, maximization was negatively correlated with happiness and life satisfaction across distinct samples (Schwartz et al., 2002). ...
... For example, in a general decision-making domain, maximization was negatively correlated with happiness and life satisfaction across distinct samples (Schwartz et al., 2002). In the domain of the job search process, compared to satisficers, maximizers experienced more negative affect and were less likely to be satisfied with the jobs they obtained (Iyengar et al., 2006). In the domain of friendship selection, Newman et al. (2018) examined the negative link between maximizing and life satisfaction and found that attempts to maximize are harmful to one's well-being. ...
Article
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The negative influence of maximization on well-being, that is, the maximization paradox, has received increased attention. However, few studies have shown the link between maximization tendency and meaning in life, which is one type of well-being, and no empirical literature has examined the mechanisms between them. We conducted an online survey in China to test the relationship between maximization tendency and meaning in life. Participants ( N =2,987) were invited to report their maximization, time perspective, meaning in life, and other control variables and demographic variables. Multi-mediation path analysis was adopted in the data analysis. The results revealed that maximization was positively associated with meaning in life, which confirmed the positive aspect of the maximization tendency. Further analyses indicated that the time perspectives of past-positive and future mediated the positive relationship between maximization and meaning in life. In contrast, a present-fatalistic time perspective was a suppressor in the positive relationship. Our findings suggest that the maximization tendency has a positive aspect rather than the overall maximization paradox. An important means of elevating meaning in life is to encourage the time perspective of past-positive and future-oriented and reduce the present-fatalistic time perspective.
... Consistent findings in maximizing research reveal that maximizing individuals devote more time and effort to their decision making than do satisficers (Cheek & Schwartz, 2016;Dar-Nimrod et al., 2009;Iyengar et al., 2006;Luan & Li, 2019;Weaver et al., 2015). Notwithstanding, the need for extensive pre-decision search is one of the reasons for maximizers' psychological trouble, because it brings light to all the other (possibly better) discarded alternatives (Nenkov et al., 2008). ...
... In order to achieve the best option, individuals need to engage in an exhaustive search of the possibilities, although this is hardly possible in any particular domain (Nenkov et al., 2008). Thus, the attempts to increase decision quality and find the best option engenders unrealistically high expectations (Iyengar et al., 2006). Maximizers usually examine more alternatives and are more likely to find alternatives that outperform the chosen one. ...
... However, empirical research has shown that, contrary to this assumption, maximizers experience more regret than satisficers (Besharat et al., 2014;Chowdhury et al., 2009;Hassan et al., 2019;Ma & Roese, 2014;Parker et al., 2007;Polman, 2010;Schwartz et al., 2002;. Besides, more negative feelings were observed in maximizers even when they obtained objectively better results (Iyengar et al., 2006). Going back to the present results, although maximizers and satisficers did not differ on the number of alternative activities reported, they did differ in the intensity of regret experience. ...
Article
Regret is an important emotion in the context of decision making and has many implications for the behavior of consumers. Although regret may be an inevitable outcome, it is possible to cope with it through various regulation strategies. This research investigates one of those strategies, namely, decrease the goal level strategy (DGL), in which one regulates regret by reevaluating the negativity of an outcome. Two properly powered and preregistered experimental studies find that the DGL strategy effectively works in regulating individuals' post-decisional regret. Besides, the DGL effect is moderated by individuals' maximizing tendency. When maximizers engaged in the DGL strategy, by reappraising their decision and recognizing positive alternative goals, they regulated their regrets more successfully. For satisficers, in contrast, who are by default more prone to adopt the protective “good enough” choice, engaging in a DGL strategy did not affect their regrets. These results contribute to the literature on regret by empirically testing DGL as an effective regret regulation strategy, showing mechanisms that can help individuals to effectively cope with regret.
... They often rely on upward and downward social comparisons to assess the quality of their decisions (Weaver et al., 2015) and engage in counterfactual thinking, i.e., imagining what would have happened had they made different choices (Leach & Patall, 2013;Schwartz et al., 2002). However, even though maximizers tend to attain better decision outcomes, they feel worse about them (Iyengar, Wells & Schwartz, 2006). This effect occurs because maximizers invest considerable resources in their decision-making process, expecting to identify the best option and obtain the best possible outcome (Dar-Nimrod et al., 2009;Luan & Li, 2017;Schwartz et al., 2002). ...
... However, the realization that they may have not succeeded in fulfilling these goals is likely to jeopardize their wellbeing (Epstein & Eidelson, 1981). Indeed, maximizers tend to be less satisfied with their choices (Iyengar et al., 2006), ruminate more over past choices (Besharat, Ladik & Carrillat, 2014;Bruine de Bruin et al., 2016), and are more likely to experience negative affect and anxiety as a result (Patalano et al., 2015). Although the literature unambiguously demonstrates that maximization is detrimental to wellbeing, we question whether there are conditions under which the severity of the effect may vary. ...
... Past studies have revealed that maximizers are reluctant to commit to a choice as they cannot help but believe that there may be alternatives that they have not yet found (Sparks, Ehrlinger, & Eibach, 2012). Maximizers also have a penchant to continue to mull over the choice (Iyengar et al., 2006;Schwartz, 2004;Schwartz et al., 2002) and generate counterfactuals (Huang & Zeelenberg, 2012). This leaves the decision open-depriving them from choice closure-and therefore inhibits the reduction of dissonance (Sparks et al., 2012), which results in regret and a lingering belief that they have not selected the best possible option. ...
Article
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Decision-making literature establishes that maximizers, who always strive for the best option, paradoxically experience lower wellbeing. The current study aims to discover the conditions that attenuate or exacerbate the detrimental effect of maximization on wellbeing by using a large-scale meta-analysis based on 683 effect sizes from 108 papers, spanning 47,245 unique respondents. We develop a conceptual framework for the literature and classify potential moderators of the maximization-wellbeing relationship along two dimensions: i) whether they enable the decision-maker to focus on the choice process or the choice outcome, and ii) the extent to which they contribute to choice complexity, expecting that process (vs outcome) focus and less complex choices can assuage maximizers’ wellbeing deficit. Our meta-analysis supports our expectations for all the choice focus moderators, but not for all the choice complexity moderators. Alongside theoretical and practical implications, we offer a framework to guide future research that should uncover when choice complexity moderators most accurately explain the wellbeing of maximizers.
... Further research found that the decision-making styles remained stable among different contexts (Kokkoris, 2019;Moyano-Díaz and Mendoza-Llanos, 2021). Regardless of the context or importance, whether it be seeking a job, selecting a course, shopping for dish soap, or choosing an ice-cream flavor, maximizers prefer a larger assortment than satisficers (Iyengar et al., 2006;Chowdhury et al., 2009;Dar-Nimrod et al., 2009;Carrillat et al., 2011;Cheek and Schwartz, 2016;Luan and Li, 2017). However, although previous research revealed the domain-spanning preference for a large assortment, few studies have explored the mechanism behind this phenomenon. ...
... Building beyond the scope of existing research, we examine how perceived importance drives maximizers' preference for large assortments. Second, while most previous research focuses on the preference (Weaver et al., 2015;Luan and Li, 2017), behaviors (Iyengar et al., 2006;Shiner, 2015;Goldsmith et al., 2018;Olson and Ahluwalia, 2021) and post-decision subjective feelings (Ma and Roese, 2014; Hassan et al., 2019) of maximizers and satisficers, we find that the difference between maximizers and satisficers occurs at an early stage and can sufficiently influence the subsequent stages. Apart from the theoretical contributions, this research also has significant practical implications for the development of marketing strategies. ...
Article
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Maximizing is a topic that has received significant attention from researchers and corporate organizations alike. Although extensive previous research has explored how maximizers behave in a decision scenario, a fundamental question remains about why they prefer a larger assortment regardless of whether the decisions are important or not. This study attempts to explore the underlying mechanism of this phenomenon. Four surveys were conducted, and participants from Mturk or Credamo online platforms were recruited (N = 922). The maximizing tendency was measured by either maximization scale or maximizing tendency scale, and perceived importance and preference for a large assortment were measured in different decision scenarios. Across four studies, we find that maximizers perceive the same decision as more important than satisficers (Study 1), and perceived importance serves as the mechanism underlying the maximizers’ preference for a large assortment (Study 2). In other words, in maximizers’ perceptions and interpretations, even seemingly trivial decisions are important enough to spend great effort on a large assortment. We additionally identified a boundary condition for the effect – cost salience (Studies 3a and 3b). These findings illustrate a pioneering empirical exploration of the difference in the way maximizers and satisficers perceive their decision importance and the reason for maximizers’ preference for a large assortment.
... Maximizers and satisficers differ in decision-making styles, characteristics, and experiences after the decision process (Harris et al., 2021). Satisficers easily get satisfied with their choice decision (Cheek & Schwartz, 2016;Hassan et al., 2020), while maximizers look for additional information at all stages of the product purchase process (Iyengar et al., 2006). Maximizers exhibit high standards (Nenkov et al., 2008), counterfactual thinking, unrealistic expectations, resistance to adverse outcomes (Molden et al., 2008), and comfort with reversible decisions (Shiner, 2015). ...
... For maximizers, the preferred coping strategy was seeking social support, and not mental disengagement or product return. This shows that maximizers rely on external sources of information to mitigate their dissonance (Iyengar et al., 2006). Further, both satisficers and maximizers experiencing negative emotions from choice decisions prefer to mentally disengage as they attempt to shed the worry about their decision (Vargová et al., 2020). ...
Article
Full-text available
Compared to traditional purchases, the temporal gap between the purchase, the delivery and the consumption of products for online purchases is a challenge for e-sellers. A mismatch of expectations and consumption experiences causes a stronger post-consumption dissonance for online purchases, the outcomes of which, in form of emotions and coping responses, are under-researched. For this work, data was collected from 895 randomly selected respondents and the model was validated through structural equation modelling. The findings support that cognitive and affective components of post-consumption dissonance have a positive influence on negative emotions, a combination of anger, regret, and guilt. Such emotions are found to trigger coping responses of mental disengagement and seeking social support, but not product return. Additionally, the evoked negative emotions are found to be lower for the elderly and female consumers. Finally, it is found that individuals with maximization focus seek social support more than those with satisficing focus for coping. The study provides a unique model connecting post-consumption dissonance with coping responses and offers insights to e-sellers about effective ways to manage such dissonance.
... The authors observed that maximizers reported less satisfaction, happiness, and optimism with life in general, and, when facing choices, they engaged in more social comparisons, experienced more regret, and were less satisfied with their choices. Even while doing better (e.g., obtaining a higher salary for a job), maximizers may feel worse because of them "not always wanting what they get" (Iyengar, Wells, & Schwartz, 2006). However, it is important to note, that the literature on maximizing is controversial on account of the proliferation and use of several different maximization scales (e.g., Diab, Gillespie, & Highhouse, 2008;Misuraca Faraci, Gangemi, Carmeci, & Miceli, 2015;Turner, Rim, Betz, & Nygren, 2012), each of which is based on different definitions of the core maximizing construct (Misuraca & Fasolo, 2018). ...
... In domains where risk is not involved, adults and adolescents seem to adopt very similar decision-making processes (Furby & Beyth-Marom, 1992): a maximizing approach. This would explain their greater perceived difficulty and post-choice dissatisfaction when facing a high number of options (see Iyengar et al., 2006). Children, on the other hand, tend to approach decisions in a more intuitive manner and quickly develop strong preferences (Schlottmann & Wilkening, 2011). ...
Book
Previous research has shown that neither too much nor too little choice is optimal. Choice sets of an intermediate size offer more positive cognitive and emotional consequences to the decision maker than small and large choice sets. However, the ideal number of choices depends on many factors. This chapter describes the main factors that moderate the effect of choice overload and so determine how much choice is enough. Consistent with Herbert A. Simon’s analogy of a pair of scissors to describe his conception of bounded rationality, where one blade represents the individual cognitive characteristics of the decision maker and the other the structures of the environment, this chapter presents these factors, regrouping them into two main categories: contextual and individual variables.
... Not only that, but they also found that post decisional satisfaction is much higher when the number of options provided is limited (Iyengar & Lepper, 1999, 2000. Having a large number of alternatives to choose from also impairs decision-making (Iyengar et al., 2006). The amount of information available about the options is also very crucial as when it increases along with the number of options available, due to the complexity people tend to resort to heuristics for simplifying their decision-making process (Payne, 1982;Payne et al., 1988;Timmermans, 1993;Wright, 1975). ...
... Later on, in 2002, Schwartz categorised them as individual difference variables, claiming that some people are more likely to maximise while some people are satisficers by nature (Schwartz et al., 2002). In subsequent research, maximizers were found to have reduced subjective well-being (Peng et al., 2018), suffer from post decisional regret and generally dissatisfied with their choices (Iyengar et al., 2006). They were found to be usually unhappy (Mikkelson & Pauley, 2013;Roets et al., 2012;Schwartz et al., 2002) and ruminative in nature (Benjamin et al., 2012;Desmeules, 2002). ...
Article
In today’s fast-moving society, we get a multitude of options available. However, choices once considered beneficial, are now being largely debated. In the face of rising prevalence of depression and being identified as the ‘disease of modernity’, this burden of increasing choices on the modern society needs to be re-evaluated. In this paper, we aim to elucidate the rising rate of depression in today’s society with regard to the increasing number of choices, the decision-making process, and the consequent attribution of the decision-making situations. We also attempt to look at the role of culture, acknowledging its importance in depression and perception of choices. Lastly, a theoretical perspective is being outlined about how the increasing amount of choices being provided in today’s society can give rise to a pessimistic attribution style among decision-makers. Decision-makers therein might be more likely to face post-decisional regret and self-blame, ultimately developing risk for depression. The way in which choices are perceived in a particular culture could either facilitate or act as a buffer to depression. Thus, the essential role that culture might play in moderating this relationship is also discussed.
... Shifting the goal of human capital investment from maximizing to achieving a satisfactory NPV could have significant long-term effects under the guidance of a practitioner (see Figure 1, Panel B). Specifically, individuals most focused on maximizing, experienced less satisfaction with their chosen major or career field (Dahling & Thompson, 2013) and also experienced more negative emotions including regret, pessimism, and depression (Iyengar et al., 2006). ...
Article
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The decision to attend college is a question of human capital investment, yet resources to help practitioners frame human capital investment decisions remain elusive and few include the “gold standard” of finance: net present value (NPV). Can one discuss human capital investment with an average adolescent using a traditional NPV approach? Motivated by this question, we presented 10 barriers to maximizing education–career NPV (e.g., clarity of costs, immature adolescent brains, individual discount rates). We outline an iterative, research-based approach to education–career investment, including framing the conversation, calculating paired NPVs, and structuring the decision. This multistep framework leverages practitioner expertise to help adolescents consider important lifelong financial wellness implications of human capital investment.
... Both maximizing and satisficing approaches to decision-making offer plausible explanations for why someone would choose not to pursue a calling. For maximizers, searching for the best possible job may thwart the pursuit of a calling in favor of a less satisfying but more financially lucrative or socially coveted occupation (Iyengar, Wells, & Schwartz, 2006). ...
Thesis
http://deepblue.lib.umich.edu/bitstream/2027.42/134370/1/justberg.pdf
... The paper will then outline the methodology used in the study, provide the findings and discussion on the data, and lead the reader to the conclusions drawn from the study in the final section. Iyengar, Wells, and Schwartz (2006) found that college graduates who described themselves as rational, or linear, thinkers secured jobs with 20% higher starting salaries but reported less satisfaction with the choice made both during and after the job search. After the decision is made, linear or rational decision-making processes could leave teachers with a lowered sense of satisfaction in the outcome. ...
Article
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In everyday classroom situations, teacher decisions are influenced by cognitive load and affect. Cognitive demands related to decision-making by teachers, and associated affect, influence future decisions, providing a juncture to change potential outcomes. Eight Australian Secondary teachers were selected for this qualitative study based on the variance in years of experience, gender, age and expertise across content areas. Interviews, classroom observations and reflection sessions revealed participants differed in the language they used when describing their process in making classroom decisions. Assertions from teachers, along with classroom observation data, showed an increased use in proactive teacher actions and reduced cognitive load in decision-making when decisions were made in a state of positive affect. Furthermore, teachers reported reduced negative affect when their initial response to unproductive student behaviour was to refer to their classroom expectations and/or acknowledge correct student behaviours, before addressing unproductive behaviours. Teacher reflections on using positive actions in classroom practices were consistent with reported reduced cognitive load and feelings of success. All teachers reported increased self-reflection while teaching due to increased awareness of available choices when making decisions. Reduced cognitive load, increased positive affect and improved awareness in available choices in classroom decisions leading to positive classroom environments.
... Jacoby, Speller, and Berning (1974a) initially identified a decremented in purchase decision quality when too many options were provided through an experiment that varied the number of laundry detergent options and characteristics available to consider (see also Jacoby, Speller, & Kohn, 1974b). Later researchers identified additional negative outcomes, including reductions in intrinsic motivation to choose in field studies that evaluated both purchasing jam and participation in 401(K) plans as options increased (Iyengar et al., 2004;Iyengar & Lepper, 2000) and post choice satisfaction as jam and perceived employment opportunities increased (Iyengar & Lepper, 2000;Iyengar et al., 2006) as well as increased disappointment and regret (Schwartz, 2004). ...
Article
Purpose Research on choice overload with adult participants has shown that the presence of a brand significantly mitigates the phenomenon. The purpose of this study is to investigate whether these findings can be expanded to a population of adolescents, where it has already been shown that choice overload occurs in a similar way as adults. Design/methodology/approach Studies 1 and 2 aim to test whether the presence of a brand name mitigates the adverse consequences of choice overload in adolescents. In line with prior research on choice overload, in both studies, the authors compared between-subjects differences in the levels of reported dissatisfaction, difficulty and regret in a choice condition where adolescents chose among either 6 or 24 options associated with brand names and in another choice condition where adolescents chose among the same 6 or 24 options but not associated with brand names. Findings This paper presents evidence from two studies that when facing either a large or a small amount of choice options that are associated with brand names, choice overload disappears among adolescents. Conversely, when no brands are associated to the choice options, adolescents report choice overload, that is a greater dissatisfaction, difficulties and regret with larger (versus smaller) assortments. Practical implications Prior research on choice overload has led to recommendations that marketers and other choice architects should simply reduce choice options or assortments to improve consumers’ satisfaction. However, our finding suggests that this recommendation may be invalidated when brands are present, at least for certain age groups. Adolescents cope indeed very well with large assortments of branded products. Originality/value The research adds to the existing understanding of choice overload, demonstrating that the brand is a moderator of the phenomenon for adolescents, who currently represent a large portion of the market. A second important contribution of this work is that it extends prior research on choice overload to real-world consumer scenarios, where consumers choose among products with a brand, rather than among products described only by technical characteristics or nutritional values, as in classical studies on choice overload.
... By contrast, maximisers aim at the best possible option and seek information about as many alternatives as possible before choosing. However, they appear to regret their decisions more often than satisficers, to be unhappy, 48 to experience more post-decisional dissonance 49 and to be more prone to change their initial decisions. 50 ...
Article
The liberalisation of the European energy market has driven changes in the way firms approach marketing, both for the acquisition of new consumers and for retaining existing ones. To retain consumers, practitioners aim to predict which consumers intend to churn (ie leave), and to understand the reasons behind this intention. To address this need, this study uses data-mining techniques to develop a churn prediction model. The study aims to identify the information that is predictive of churn and, consequently, to shed light on the psychological reasons behind churn. The authors built eight predictive models using decision trees, random forest and logistic regression on a dataset composed of 81,813 consumers of an energy provider, each with one residential electricity contract. The logistic regression was found to outperform the other methods. The discussion focuses on the relevant predictors of churn by addressing a posteriori psychological explanations of consumers' churn behaviour. The study provides new insights on the reasons why customers churn and, by addressing theoretical psychological explanations, provides a data-mining model with robustness to contextual changes. Applied Marketing Analytics 6 (2), pp. 136-150 Henry Stewart Publications https://www.ingentaconnect.com/content/hsp/ama/2020/00000006/00000002/art00006
... In fact, almost all the choices people make involve either the relative or absolute best. This relation holds for contexts in which people make choices in comparison with others (Iyengar et al., 2006) as well as for contexts in which people make choices merely for personal pleasure (Carter & Gilovich, 2010). However, such a gap does not mean that the topic is entirely unaddressed in previous literature. ...
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The present research explores how product type influences the trade‐off between relative and absolute best choice. We measure consumers' choice preferences and willingness to pay in five studies by manipulating different utilitarian versus hedonic products or different utilitarian versus hedonic goals of the same product. The results demonstrate that consumers prefer the absolute best choice for hedonic products and the relative best choice for utilitarian products (Studies 1a and 1b). When choosing a hedonic product, consumers are willing to pay significantly more for absolute than relative best choice. However, when choosing a utilitarian product, consumers are willing to pay more for the relative than absolute best choice, but the differences are not significant (Studies 2 and 3). Social comparison mediates the relationship between product type and choice preference. Specifically, compared to hedonic products, social comparison increases the relative best choice preference of utilitarian products (Study 4). Moreover, rivals moderate the effect of product type on choice preference (Study 5). The theoretical implication includes demonstrating the comparative advantage of product type on choice preference and interpreting the underlying mechanisms using social comparison. The findings also have important practical implications for utilitarian and hedonic consumption.
... As mentioned previously, adults tend to define themselves by what they do-their careers. Earnings peak during this time, yet job satisfaction is more closely tied to work that involves contact with other people, is interesting, provides opportunities for advancement, and allows some independence (Mohr & Zoghi, 2006) than it is to salary (Iyengar, Wells, & Schwartz, 2006). How might being unemployed or being in a dead-end job challenge adult wellbeing? ...
... Schwartz et al. (2002) categorized people as either maximizers who generally search for the best outcome or as satisfiers who settle for a good enough option (Luan and Li, 2017). Since the influential research of Schwartz, studies have investigated maximization tendencies (Iyengar et al., 2006;Chowdhury et al., 2009;Dar-nimrod et al., 2009;Polman, 2010;Cheek and Schwartz, 2016) and have revealed the psychological characteristics of maximizers. Although describing the characteristics of maximization is useful, how to promote maximization tendencies is also a major topic in need of clarification. ...
Article
People seek the best in every aspect of life. However, little is known about the neurobiological mechanisms supporting this process of maximization. In this study, maximization tendencies were increased by using high-definition transcranial direct current stimulation (HD-tDCS) over the right dorsolateral prefrontal cortex (DLPFC). Participants (n = 64) received 2 mA anodal 4 × 1 HD-tDCS or sham stimulation over the right DLPFC in two sessions and subsequently completed an N-back working memory task and a maximization scale (MS). We observed that maximization tendency scores increased during anodal stimulation. Furthermore, the results indicate that this increase in maximization tendency was driven by motivational changes. On the MS, alternative search subscale scores were significantly increased, demonstrating an increase in motivation to evaluate more alternatives; however, the results did not indicate that the increase in maximization tendencies was due to working memory improvement. These results demonstrated that maximization tendencies can be strengthened through noninvasive interventions and that the right DLPFC has a causal relationship with maximization tendencies.
... However, as with many other previously described variables, satisfaction with both the chosen item and the decisionmaking process itself are inverted U-shaped functions of the number of alternatives, with people being the most satisfied with intermediate rather than small or large sets of alternatives (Reutskaja & Hogarth, 2009). In addition, having many alternatives may lead to less satisfaction with decisions even when more choices yield better objective outcomes (Schwartz, 2000(Schwartz, , 2004Iyengar, Wells & Schwartz, 2006). ...
Book
In our information-rich world, people face a great many choice alternatives involving both small and large stakes, from jam and chocolate to health and pension plans. Though classic economics and psychology have both traditionally emphasized the benefits of more information and greater choice, a sizable and parallel body of research has demonstrated that having too much information or too many choices can lead to information and choice overload, choice paralysis, and negative affective states connected with both the decisions process and the choice outcome. This chapter offers a concise summary of evidence collected by researchers for more than half a century on how people deal with large amounts of information and how they make choices from sets with multiple alternatives. The simple cost-benefit model proposed in earlier research is discussed in relation to the mechanism underlying the choice-overload phenomenon.
... In general, an increase in leisure time and opportunities will have a positive impact on individual leisure satisfaction and quality of life. However, based on previous researches, that is not always true [6,7]. Lee and Hwang [3], for example, have reported that a certain amount of increased leisure time has negative influences on every sub-factor such as sociability, self-control, receptivity to change, and so on. ...
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This study investigated differences in main purposes of leisure activities, leisure constraints, and the quality of life among segmented clusters based on leisure condition index, leisure resource index, and leisure attitude index utilizing Korean Better Leisure Index (K-BLI). Characteristics of each cluster were aggregated for profiling using data from the ⎡National Leisure Activity Survey 2019⎦ in Korea. Results of this study provide room for debate and response regarding leisure experience and sustainability of recreation service in local community based on characteristics of each cluster. This study semanticized adults living in Gyeonggi-do having the highest population density in Korea by conducting K-means clustering. This study segmented subjects into three clusters. Characteristics of each cluster were determined and t-test was conducted to determine associations among the main purpose of leisure activities, leisure constraints, and quality of life. As a result, adults living in Gyeonggi-do were divided into “dissatisfaction with leisure resource”, “dissatisfaction with the quality of life”, and “sensitive to the leisure constraints” clusters. Their desire for improvement for quality of life and leisure activity were definitely clear. This means that results of this study through segmentation based on leisure index are meaningful as baseline data to suggest an actual policy plan.
... In this context, the evidence shows that those who exercise a maximizing decision style are more likely to experience negative emotional consequences than those who simply satisfy (Schwartz et al., 2002;Abbe et al., 2003;Iyengar et al., 2006;Pelusi, 2007;Dar-Nimrod et al., 2009;Bin Rim et al., 2011;Purvis et al., 2011;Moyano-Díaz et al., 2013, 2014Cheek and Schwartz, 2016). However, little research exists on whether people maintain and generalize the same decision-making style in their different operating environments. ...
Article
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The decision-making literature distinguishes one maximizing style from another satisficing decision-making style, but it is unknown whether these styles remain stable or are variable depending on the occasion. One way to approach it is to verify eventual generalization of these styles in behavior of people in different decision domains. Some incipient results with University students from the United States and Austria suggest that these styles would remain in three different domains. However, it is unknown if this is the case in adults, other cultures, or vital areas of great relevance, such as health and personal finances. The objective here is to identify if Chilean Latin American participants of different sex and age maintain their decision-making style in five different decision domains. The sample was 343 volunteers, 52.6% men, from two regions of central-southern Chile (Maule and Ñuble), aged between 20 and 90 years (M = 45.47; SD = 16.05), who answered the Maximization Tendency Scale, and 45 items corresponding to five different decision domains: health, life decision, finances, services and experiences, and consumer's good. An apparent coherence of decision-making style -maximizing and satisficing- was obtained in the five domains. The health domain stands out for being the one in which it is maximized and with greater internal homogeneity.
... and the smallest amount of variance in low personal accomplishment, R 2 = .02. These findings are consistent with those from other studies linking maximizing with lower levels of subjective wellbeing (e.g., happiness, life satisfaction; Iyengar, Wells, & Schwartz, 2006). ...
... To obtain their economic goals, companies tend to carry large assortments because they cover broader consumer segments [3]. Though large assortments give consumers greater freedom of choice and flexibility [18], they increase decision difficulty [5] because the amount of available information on options increases [19,20] and fears of not choosing the optimal option are induced [21,22]. For example, consumers who selected a chocolate from 30 options felt the decision process was more difficult and frustrating than did consumers who chose from a limited set of six options [6]. ...
Article
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Social enterprises aim to achieve both social and economic goals by reaching broader consumer segments through extensive assortments, but research into how this product proliferation strategy affects consumer response is scarce. In the current research we examine how consumers judge social enterprises providing large product assortments. Three experiments show that choice overload (i.e., having a decision difficulty when faced with many options) can be reversed among target consumers of social enterprises—specifically those whose involvement in a social cause is high. Because more-involved consumers view large assortments of cause-related products as an indicator of the company’s commitment to addressing social issues, they identify with the company and thereby form communal relationships. Thus, the consumers’ focus shifts from comparing options to helping the company, leading to reduced decision difficulty. The findings contribute to existing research on assortment size and the understanding of the information consumers use to evaluate the company’s commitment to social causes.
... One could imagine this same tendency occurring with respect to preferences for decentralization: individuals might naturally focus on desirable attributes of decentralization-such as the greater autonomy and freedom provided-while ignoring other counterbalancing factors-such as the lack of clear direction from a manager or the greater accountability they face being the sole decision maker. These forecasting errors can ironically lead individuals with strong a priori preferences to set expectations that when not met, lead to negative affective responses relative to those with weak preferences and lower expectations (Finkel et al. 2014, Iyengar et al. 2006. The rarity of decentralization may further exacerbate the likelihood of forecasting errors-most individuals have never experienced working in a decentralized structure and so may be unable to develop informed preferences or expectations (Gruenfeld andTiedens 2010, Loewenstein andSchkade 1999). ...
Preprint
While flattening hierarchies and distributing decision making downward is sometimes described as a form of occupational nirvana for contemporary knowledge workers, prior research on the effects of decentralization on employee work experience has been mixed. This calls for greater examination of the sources of heterogeneity in workers’ responses to decentralization. In this study, we conduct a field experiment where groups were randomly assigned either to operate in a decentralized structure or to remain in a traditional hierarchical structure. We use this experiment to examine the causal effect of decentralization on employee work experience, as well as to explore whether and how the effects of decentralization vary depending on employee ability and work preferences. We show that decentralization had no average effect on employee work experience—measured as job satisfaction, engagement, and turnover intention—but decentralization improved the work experience of employees with high job-related ability and employees with strong a priori preferences for working in a decentralized structure. Conversely, we show decentralization negatively impacted the experience of employees with low ability and weak preferences for decentralization. This study provides novel insights into the effects of decentralization, the micro-foundations of organizational design, and the human consequences of the future of work. Prepint available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4077075
... Quienes maximizan invierten más recursos psicológicos y tiempo en analizar diferentes alternativas de decisión, lo que trae consigo sobrecarga y un conjunto variado de emociones incluyendo pesar, depresión, infelicidad y efectos negativos sobre el bienestar subjetivo (Schwartz, 2002;Nenkov et al., 2008). A diferencia de los 'satisfascedores' (quienes buscan una opción meramente buena), los 'maximizadores' se esfuerzan por encontrar la opción óptima, experimentando mayor nivel de pesar e insatisfacción, menos felicidad, más depresión y menos optimismo que aquellos (Iyengar et al., 2006;Larsen y McKibban, 2008;Polman, 2010;Purvis et al., 2011;Turner et al., 2012;Moyano-Díaz et al., 2014). ...
Article
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Maximization is the subject of numerous studies related to its conceptualization, measurement, and emotional effects. It is unknown if the maximizing style is equally distributed in the population of different generations, or with the same emotional effects. The goal is to identify it in three groups of different generations: Baby Boomers (BB; n= 135), Generation X (GX; n= 233), and Generation Y or Millenials (CY; n= 253), all working adults of both sexes who answered instruments to measure maximization, well-being subjective, difficulty in deciding and regret. GY stands out for looking for the best option and for presenting more regret than the other generations. There are no intergenerational differences in life satisfaction or happiness. GX and BB do not differ from each other, experiencing less difficulty in deciding and less regret than GY. It is found that as age, parsimony to make decisions increases, and self-regulation improves.
... Individual differences that have been examined inclusive of rational, intuitive, dependent, avoidant or spontaneous decisionmaking styles (Scott and Bruce, 1995) and competency in decision-making (Bruine de Bruin et al., 2007;Finucane et al., 2002Finucane et al., , 2005Parker and Fischhoff, 2005). For example, those who highly rely on external sources of information and social comparisons in their decisionmaking are more likely to regret their counter-factual thinking, leading to question the choices they made (Iyengar et al., 2006). Rational decision-making reflects their systematic way of decision selection, and low level of intuition and low dependence on feelings and instincts (Slovic et al., 2004). ...
Article
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Purpose This study aims to investigate the impact of entrepreneurs’ decision-making styles on enterprise performance and suggests several entrepreneurial ecosystems – factors are impacting this relationship. The authors extend this line of work by examining how regional entrepreneurial culture, educational institutional support and business and social networks mediating the relationship between entrepreneurs’ decision-making style and small medium enterprises (SME)s’ financial performance. Design/methodology/approach The data were collected through an e-survey of SME owners in New South Wales, Australia. This study developed a model combining a set of entrepreneurial ecosystem factors, entrepreneurs’ decision-making styles and SMEs’ financial performance. Data were analysed using partial least square structural equation modelling. Findings The results suggest regional entrepreneurial culture, educational institutional support and business and social networks mediate the relationship between entrepreneurs’ decision-making style and SMEs’ financial performance. Hence, this study developed a more complete methodical understanding of entrepreneurs’ decision-making styles and their impact on SMEs’ financial performance. This study provides deeper insights into the conditions and processes by which an entrepreneurs’ decision-making style impacts SMEs’ financial performance. Originality/value The focus of this study was to understand the relationship of entrepreneurs’ decision-making styles on SMEs’ financial performance. The authors identified that the entrepreneurs’ decision-making style positively impacts SMEs’ financial performance. This study augments the body of knowledge by proposing ways in how the entrepreneurs’ decision-making style can be more strengthened.
... The second classification is job search effort and intensity; these studies focused on the difficulty level in finding a job, required amount of time and energy to find a job [7][8][9][10]. Some other examined the job search strategies which comprises of three different behaviors i.e. a focused search, exploratory search, and haphazard search with no defined goal [11][12][13]. Blau [14] and Blau [7] introduced preparatory and active job search behavior, which is also considered as intensity by many other studies. The results of these studies affirmed that active job searcher has high chances of being employed [7,9,15]. ...
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This research is aiming to investigate the use of information technology in job searching behavior in Pakistan and for this purpose, we have used the composite choice model. The data for empirical investigation is extracted from Household Integrated Income and Consumption Survey (HIES), 2015-16. The findings of the study endorse the predecessor's findings as in the case of Pakistan social tie reduces the likelihood of online job searching. The results of the variable gender show, in the first three models, the odds of male for online job searching is approximately 17% lower than females. The composite behavior i.e. the product of employment status and gender; shows that if a person is male and employed then it is more likely that he will opt for online job searching. The second interactive term is also indicating significantly that unmarried with a strong social tie has relatively high tendencies to use online job searching as compared to counterpart married person.
... Choice maximizers tend to agonize over decisions, where satisficers may be happy with selecting a "good enough" option (Schwartz et al., 2002). In accord, Roets et al. (2012) suggest that the implications of choice maximization for decision quality are highly significant to a variety of personal decision-making domains, for example, career (Iyengar et al., 2006), negotiations (Hackley, 2006), family life (Barrett-Howard and Tyler, 1986), and consumer choice (Misuraca et al., 2015). Therefore, choice maximization will influence consumers' choice difficulty in relation to a health risk assessment. ...
High contact sports have gained popularity among consumers, who often seek thrills and the feeling of invin-cibility by risking their well-being. One major health risk associated with these sports is head injuries, including trauma, concussion, and sleep disruption. In this research, we investigate the effect of consumers' product choice difficulty on their health risk assessments. We illustrate a novel mediating route by documenting how and when choice maximization can help consumers make the optimal choice when faced with the many products available in the market. To aid their decisions, consumers require communication about the health benefits of the product (first-stage boundary condition) but not at the expense of reducing their game-playing enjoyment (second-stage boundary condition). The paper concludes with contributions to and implications for theory and practice and a research agenda to guide future inquiries in this under-researched area.
... This influence the retailers to put up their outlets inside the malls and be better placed against their competition. Schwartz et al. (2002) , knowledge to influence the 'harried shopper' where grocers considerably vary when it comes to striving for a decision to patronage (Iyengar et al., 2006;Schwartz 2004;Schwartz et al., 2002). Artificial Intelligence has powered the shoppers using their smart phone like Amazon Go experience ,the machine learning techniques to use the AI. ...
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This study investigated to analyze the customer preference of retail supermarket chain store (grocery outlet) based on store attributes like location, service, communication etc., The study was conducted through a self designed questionnaire, and the data was collected from the customers of Chennai urban city. The size of the sample was restricted to 199. The types of retail format concentrated on this study are supermarket chain stores like MORE, Spencer's and Reliance branded stores location etc. The MDS technique was applied to identify the preference based on convenience (Dimension 1) and Exclusive Design of stores (Dimension 2). The findings from the study reveals that the malls, specialty stores and hyper/super markets are preferred but grocers find specialty stores more convenient than others. This influence the retailers to put up their outlets inside the malls and be better placed against their competition. Grocers identifies the satisfied shoppers building them as patron shoppers. Consequently, retailers must develop strategies intended to build relationships that result in customers returning to make more purchases. So, the retailers can adopt a suitable strategy to sustain in the market and to meet the economic crisis situations.
Conference Paper
A variety of methods is used nowadays to reduce the complexity of product search on e-commerce platforms, allowing users, for example, to specify exactly the features a product should have, but also, just to follow the recommendations automatically generated by the system. While such decision aids are popular with system providers, research to date has mostly focused on individual methods rather than their combination. To close this gap, we propose to support users in choosing the right method for the current situation. As a first step, we report in this paper a user study with a fictitious online shop in which users were able to flexibly use filter mechanisms, rely on recommendations, or follow the guidance of a dialog-based product advisor. We show that from the analysis of the interaction behavior, a model can be derived that allows predicting which of these decision aids is most useful depending on the user’s situation, and how this is affected by demographics and personality. [ Full text available at: https://bit.ly/392xxDG ]
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L'effetto del sovraccarico di scelta è stato finora studiato prevalentemente su adulti. L'unico studio condotto su fasce di età diverse dagli adulti ha fornito una prima dimostrazione del fatto che le conseguenze negative dell'avere troppa scelta non si estendono in egual misura a bambini, adolescenti, adulti e anziani. Il presente lavoro si propone di indagare ulteriormente le conseguenze negati-ve dell'avere troppa scelta su bambini, adolescenti e anziani. I dati suggeriscono che mentre gli adolescenti sono influenzati dal fenomeno in modo simile agli adulti, i bambini e gli anziani sembrano invece esserne immuni. Sono discusse le implicazioni teoriche e pratiche dei risultati e sono forniti spunti per ulteriori ricerche.
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It is well documented that maximizers are less happy with their product-choices than are satisficers, but would this mean that maximizers use their products less? We conducted two studies and found that, contrary to scores of studies that demonstrate maximizers regret their decisions, maximizers consume their selected options with more gusto than satisficers. Our results thus contribute to research on maximizing and specifically the “maximization paradox”—the notion that maximizers make better choices than satisficers yet feel worse. Taking a post-choice perspective to maximizing, we examined the paradox after a choice is made. In addition, our research sheds new light on scholarship in consumer behavior. Rich with scientific insights that reveal how to promote, nudge, or alter a product-choice, research in consumer behavior has rarely tested what naturally follows: how much a chosen product is used or consumed. Over two 1-month periods, we examined how much maximizers consumed their selected options, which illuminates the realm of post-choice behavior—the degree that consumers use a product after acquiring it.
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The consequences of overconsumption and the recent popularity of simple living point to consumer interest in reducing belongings. They also raise an interesting question—what is a useful approach to downsizing and decluttering? We investigate how dis/order (messy vs. tidy items) affects downsizing and find, across nine focal studies, that (a) consumers retain fewer items when choosing from a disordered set because (b) order facilitates the comparisons within category that underlie the tendency to retain items. The impact of dis/order is altered by consumers’ comparison tendencies, waste aversion, and decision strategy (selection vs. rejection), which serve as theoretically and pragmatically relevant moderators. Though consumers’ lay beliefs favor rejecting from order (i.e., choosing what to get rid of from tidy items), our findings point to the usefulness of selecting from disorder (i.e., choosing what to keep from messy items) as a downsizing strategy. Together, this research has implications for consumer downsizing activities, the burgeoning home organization and storage industries, as well as sustainability.
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How does the number of candidates competing in an election affect voting behavior? In theory, as the number of candidates running for office increase, citizens’ utility from voting also increases. With more candidates, voters are more likely to have candidates that are close to their ideal points. Practically, however, more candidates also means a higher cognitive burden for voters who must learn more during campaigns in order to find their “ideal” candidate. In this paper, we examine how choice set size affects voting behavior. Using a survey experiment, we show that subjects presented with many options learn less about candidates, are more likely to vote based on meaningless heuristics, and are more likely to commit voting errors, when compared with subjects who choose between only a few candidates.
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Not every consumer wants to read customer reviews after making a purchase. The present research examines whether consumers' individual differences in decision-making styles, namely maximizing and satisficing, can affect the extent to which consumers seek additional information such as customer reviews as well as the valence of such information after making a product choice. Findings from two studies show that maximizers exhibit a greater tendency to engage in postchoice information search than satisficers. Drawing upon the two-component model of maximization, the results also suggest that the maximization goal to choose the best is related to seeking additional information in favor of the initial choice (e.g., positive reviews) whereas the maximization strategy of alternative search is related to seeking further information both in favor of and against the initial choice (e.g., positive and negative reviews), which ultimately impacts consumers' choice satisfaction.
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Travelers often demonstrate the compromise effect—a tendency to choose the intermediate option(s) when facing difficult trade-off decisions. The compromise effect has been replicated in very specific settings where typically only two or three options were available. This research extends our understanding of the compromise effect by examining the impact of the number of options on travelers’ choices. Based on two different accounts (i.e., attribute distance account vs. decision complexity account), we predict that the compromise effect will be attenuated as the number of options in a choice set increases. Four experimental studies provide supporting evidence for this argument and support the attribute distance account as the main underlying mechanism. This research contributes to the extant tourism and travel choice literature by responding to the call to investigate the compromise effect in complex buying contexts.
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The objective of this research is threefold: 1) to examine the underpinnings of perceived reciprocity in the sharing economy, 2) to explore the cognitive and behavioural outcomes of reciprocity evaluation, and 3) to investigate how situational and personal variables regulate perceived reciprocity and subsequent cognitive and behavioural outcomes. The data were collected from 398 users of sharing economy platforms. The findings made it possible to conclude that the perception of reciprocity is conditioned by a feeling of social identity, ingroup comparison, procedural justice and a predisposition towards outcome maximisation. Relationship commitment is predicted by perceived reciprocity and coping mechanisms (i.e. emotion-focused and problem-focused) following reciprocity perception. In addition, it was found that the value of exchange, social influence, response efficacy and self-efficacy moderate the relationships between perceived reciprocity, its antecedents and its cognitive and behavioural outcomes. The theoretical and practical implications of the findings are provided.
Article
Nine studies investigate when and why people may paradoxically prefer bad news—e.g., hoping for an objectively worse injury or a higher-risk diagnosis over explicitly better alternatives. Using a combination of field surveys and randomized experiments, the research demonstrates that people may hope for relatively worse (versus better) news in an effort to preemptively avoid subjectively difficult decisions (Studies 1–2). This is because when worse news avoids a choice (Study 3A)—e.g., by “forcing one’s hand” or creating one dominant option that circumvents a fraught decision (Study 3B)—it can relieve the decision-maker’s experience of personal responsibility (Study 3C). However, because not all decisions warrant avoidance, not all decisions will elicit a preference for worse news; fewer people hope for worse news when facing subjectively easier (versus harder) choices (Studies 4A¬–B). Finally, this preference for worse news is not without consequence and may create perverse incentives for decision-makers, such as the tendency to forgo opportunities for improvement (Studies 5A–B). The work contributes to the literature on decision avoidance and elucidates another strategy people use to circumvent difficult decisions: a propensity to hope for the worst.
Article
Although pickiness fundamentally concerns one’s preferences, there is currently no definition of this construct in the consumer psychology literature. This paper presents a conceptualization of shopper “pickiness” – an overly narrow latitude of acceptance around an idiosyncratic ideal point. Pickiness is revealed in two ways: pickiness by acceptance (PBA) (i.e., choosing to accept few options) and pickiness by rejection (PBR) (i.e., choosing to reject many options). This work introduces the Picky Shopper Scale to assess relative degrees of pickiness among individuals, show how pickiness is related to other individual‐difference variables, and articulate how pickiness differs from Maximizing. Picky shoppers consider both horizontal (taste‐based) and vertical (quality‐based) product attributes as important in product evaluation, while maximizers primarily prioritize vertical product attributes. A field test reveals that those who score higher on the Picky Shopper Scale (but not on a Maximizer scale) more frequently reject a free gift that comes with a subjectively undesirable horizontal attribute than those who score lower. Downstream implications of pickiness are discussed.
Article
New research in the behavioural sciences has identified that some individuals consistently strive to make the best choice through extensive information search (maximisers), while others are inclined to select options that are good enough (satisficers). The purpose of this study is to investigate how these decision-making styles impact the entrepreneurial process. It is predicted that maximising entrepreneurs will perform better in their entrepreneurial ventures than satisficing entrepreneurs. In order to achieve improved outcomes, it is expected that maximisers will apply their preference for information search to develop more entrepreneurially oriented and market-oriented businesses. Data gathered from a sample of 172 entrepreneurs in the United States indicate that entrepreneurs who maximise outperformed their satisficing counterparts. This relationship was mediated by both entrepreneurial orientation and market orientation, suggesting that maximising entrepreneurs are more likely than satisficers to adopt innovative and market driven approaches to improve entrepreneurial performance.
Article
In this research, we address the question of whether and how a maximizing mindset influences product-bundle evaluations. We identify and test two routes of processing when maximizers evaluate product bundles: One route focuses on perceived value of the whole bundle, and one route focuses on the scrutiny of individual products in the bundle. The former route enhances the bundle preference whereas the latter decreases it. The positive effect of a maximizing mindset on bundle preference is primarily driven by the perception of savings. However, when it is explicit that there is no monetary savings (Study 1), or the implicit perception of savings is controlled for (Study 2), or the discount is framed in a way that promotes separation of bundle elements (i.e., discount on focal product; Study 3), or the products in the bundle are low on complementarity (Study 4), the negative effect through product scrutiny becomes significant.
Article
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Introduction: the purpose of this study was to study the effect of psychological factors and the search type on choice overload in the information retrieval systems. Methodology: This study used a descriptive review method and was done based on the study of relevant literature on the choice overload theory. Collection of related articles was done with using the keywords of ‘ ‘ Too-much-choice effect’ ’ , ‘ ‘ hyperchoice’ ’ , ‘ ‘ tyranny of choice’ ’ , ‘ ‘ paradox of choice’ ’ , ‘ ‘ lure of choice’ ’ and their combinations with the keywords of ‘ ‘ maximizer’ ’ , ‘ ‘ satisficer’ ’ , ‘ ‘ type of search’ ’ , ‘ ‘ modulators’ ’ and ‘ ‘ Google’ ’ in databases of SID, Magiran, ScienceDirect and Google Scholar in the time span of 19902017. Findings: The findings showed that factors such as restrictions on cognitive ability and occurring cognitive overload (cognitive overload theory), feeling regret about not including all items and then regret about the choice that leads to so-called "berry picking" or information selection with obsession (serendipity theory), and trying to select relevant information regarding to the cognitive capacity constraints (selective attention theory) are dissatisfaction factors in many retrieved results. Browsing researches in this area shows that amongst psychological factors, the personality factor is an effective factor in the choice overload. Conclusion: Users personality and search type are both effective variables in determining the level of satisfaction. According to the information retrieval systems' more direction toward customization, considering the type of personality and the type of search will lead to some retrieval with more satisfied users. Keyword(s): Choice overload theory,Psychological factors,Search type,Personality,Information retrieval systems
Article
The present study tested the hypothesis that maximizers – people who routinely seek to make optimal decisions rather than quickly settling for an acceptable one – are less susceptible to cognitive biases. Experiment 1 showed that high maximizers are less swayed by irrelevant differences in the framing of a decision-making scenario than are low maximizers. Experiment 2 confirmed that maximizers are also less likely to neglect important base rate information when making decisions. Experiment 3 showed that maximizers are less likely to stick with a bad plan in which they have already invested (the sunk-cost bias) and therefore are quicker to switch to a more attractive alternative plan. Thus, we conclude that maximizers are generally more normative decision-makers. The present study also confirms the importance of using refined maximizing scales.
Article
Companies often encourage consumers to compare their performance with others hoping that a comparison with a superior other will motivate consumers in their goal pursuit. However, upward social comparison is often more motivating for maximizers than satisficers. In this research, we take a closer look at the often understudied satisficers and show what types of social comparisons motivate them. Based on the accuracy‐effort tradeoff, we propose that satisficers care less about achieving more and focus more on the other side of the tradeoff: exerting less effort. As a result, a comparison with a superior other who uses less input (vs. achieves more output) is more motivating for satisficers. Three studies support our prediction. While maximizers are motivated by comparing themselves to others who achieve more, satisficers are motivated more by superior others who use less input. Collectively, these findings suggest a more nuanced perspective on satisficers and have implications for both maximizing and social comparison literature.
Article
Decision-makers show a status-quo bias when they cannot relinquish status quo selections. Maximizers tend to be regretful and indecisive, while satisficers tend to be content. Does this mean that maximizers will show a larger status-quo bias than satisficers? Could the reverse occur? To answer these questions, we study the ways in which the moderating effect of the maximization trait on the choose-reject status-quo bias (choosing few options but also rejecting few) is itself moderated by three contextual factors: information load, counterfactuals, and mood. Our results show that, compared to each other, both maximizers and satisficers show a larger choose-reject status-quo bias under compatible contextual factors. Maximizers do so when information load is high (study 1), and satisficers do so when experiencing a downward counterfactual (study 2) and positive mood (study 3). We believe that compatible contextual moods amplify the influence of maximization trait moods and drive our effects.
Article
The aim of this study is to investigate crowd investor behavior when competing offerings are simultaneously published on an online platform. The behaviors explored are choice avoidance, the 1/n heuristic, and herding, which can be influenced by the number of concurrent offerings. This analysis is based on a sample of 2,592 investors that have participated in 50 campaigns on an Italian equity crowdfunding platform between 2016 and 2018. We find that the presence of competing offerings influences the amount invested and, to a lesser extent, the investment decision, while the exposure to heuristics varies among investors’ profiles. Moreover, selectors and serial investors are those with a lower exposure to heuristics, whereas early and late investors are subject to herding when multiple campaigns are published on a platform. This study has implications for entrepreneurs and platform managers in terms of crowdfunding portal selection and information design.
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Are there too many options in online shopping? Although extant studies have largely focused on the effects of choice overload, few shed light on choice overload in online shopping situations. In light of online shopping’s untouchable nature and sorting mechanisms, we argue that choice overload in online shopping is associated with consumer vigilance and assortment desirability. Across four experiments, we found that the size of the online choice set significantly influences consumers’ choice difficulty and choice deferral. We also discovered that consumer vigilance and assortment desirability moderate these relationships. Specifically, high vigilance increases the negative impact of assortment size on consumer decision, whereas assortment product desirability alleviates this consequence. We contribute to the literature by extending prior predictions of choice overload and proposing a framework involving choice overload, vigilance, and desirability for future research.
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Background The tendency to maximize is one of the most frequently studied personal traits in choice-making and decision-making. In spite of the large resemblances between the decision behaviour that is characteristic for maximizers and the decision behaviour displayed by individuals with autism, and the considerable overlap in the list of decision problems and decision experiences commonly reported by maximizers and individuals with autism, the question whether individuals with autism are more maximizing in decision-making as compared to neurotypical controls, has remained unexamined in the literature. The paper measures and compares the tendency to maximize, satisfice, and minimize in choice- and decision-making among autistic individuals and age, gender- and education degree-matched neurotypical individuals. Method The Decision Making Tendency Inventory measurement scale (Misuraca et al., 2015) is used to measure six types of decision-making tendency: fearful maximizing, resolute maximizing, more ambitious satisficing, less ambitious satisficing, parsimonious minimizing, and indolent minimizing. A multi-group confirmatory factor analysis and comparison of the differences in latent means is performed. Results The results demonstrate that autistic individuals are similar to neurotypical individuals when it comes to having a tendency to satisfice or minimize in decision-making, however, autistic individuals do score higher in terms of adopting a fearful and resolute maximizing tendency than neurotypical individuals. Conclusions Results suggest that higher maximizing tendency may explain for some of the difficulties experienced by autistic individuals in decision-making
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Two studies tested the hypothesis that self-rated unhappy individuals would be more sensitive to social comparison information than would happy ones. Study 1 showed that whereas unhappy students' affect and self-assessments were heavily affected by a peer who solved anagrams either faster or slower, happy students' responses were affected by the presence of a slower peer only. These between-group differences proved to be largely independent of 2 factors associated with happiness, i.e., self-esteem and optimism. Study 2 showed that whereas the unhappy group's responses to feedback about their own teaching performance were heavily influenced by a peer who performed even better or even worse, happy students' responses again were moderated only by information about inferior peer performance. Implications for our appreciation of the link between cognitive processes and "hedonic" consequences are discussed.
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Conventional wisdom and decades of psychological research have linked the provision of choice to increased levels of intrinsic motivation, greater persistence, better performance, and higher satisfaction. This investigation examined the relevance and limitations of these findings for cultures in which individuals possess more interdependent models of the self. In 2 studies, personal choice generally enhanced motivation more for American independent selves than for Asian interdependent selves. In addition, Anglo American children showed less intrinsic motivation when choices were made for them by others than when they made their own choices, whether the others were authority figures or peers. In contrast, Asian American children proved most intrinsically motivated when choices were made for them by trusted authority figures or peers. Theoretical and practical implications of these findings are discussed.
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Current psychological theory and research affirm the positive affective and motivational consequences of having personal choice. These findings have led to the popular notion that the more choice, the better-that the human ability to manage, and the human desire for, choice is unlimited. Findings from 3 experimental studies starkly challenge this implicit assumption that having more choices is necessarily more intrinsically motivating than having fewer. These experiments, which were conducted in both field and laboratory settings, show that people are more likely to purchase gourmet jams or chocolates or to undertake optional class essay assignments when offered a limited array of 6 choices rather than a more extensive array of 24 or 30 choices. Moreover, participants actually reported greater subsequent satisfaction with their selections and wrote better essays when their original set of options had been limited. Implications for future research are discussed.
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Can people feel worse off as the options they face increase? The present studies suggest that some people--maximizers--can. Study 1 reported a Maximization Scale, which measures individual differences in desire to maximize. Seven samples revealed negative correlations between maximization and happiness, optimism, self-esteem, and life satisfaction, and positive correlations between maximization and depression, perfectionism, and regret. Study 2 found maximizers less satisfied than nonmaximizers (satisficers) with consumer decisions, and more likely to engage in social comparison. Study 3 found maximizers more adversely affected by upward social comparison. Study 4 found maximizers more sensitive to regret and less satisfied in an ultimatum bargaining game. The interaction between maximizing and choice is discussed in terms of regret, adaptation, and self-blame.
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This empirical investigation tested the hypothesis that the benefits of personal choosing are restricted to choices made from among attractive alternatives. Findings from vignette and laboratory studies show that contrary to people's self-predictions prior to actually choosing, choosers only proved more satisfied than nonchoosers when selecting from among more preferred alternatives. When selecting from among less preferred alternatives, nonchoosers proved more satisfied with the decision outcome than choosers. Subsequent analyses revealed that differences in outcome satisfaction between choosers and nonchoosers emerge even before the decision outcome is experienced and that interventions during the decision-making process can serve to attenuate these differences. Theoretical and practical implications are discussed.
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The statistic p(rep) estimates the probability of replicating an effect. It captures traditional publication criteria for signal-to-noise ratio, while avoiding parametric inference and the resulting Bayesian dilemma. In concert with effect size and replication intervals, p(rep) provides all of the information now used in evaluating research, while avoiding many of the pitfalls of traditional statistical inference.
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Pleasures of the mind are different from pleasures of the body. There are two types of pleasures of the body: tonic pleasures and relief pleasures. Pleasures of the body are given by the contact senses and by the distance senses (seeing and hearing). The distance senses provide a special category of pleasure. Pleasures of the mind are not emotions; they are collections of emotions distributed over time. Some distributions of emotions over time are particularly pleasurable, such as episodes in which the peak emotion is strong and the final emotion is positive. The idea that all pleasurable stimuli share some general characteristic should be supplanted by the idea that humans have evolved domain-specific responses of attraction to stimuli. The emotions that characterize pleasures of the mind arise when expectations are violated, causing autonomic nervous system arousal and thereby triggering a search for an interpretation. Thus pleasures of the mind occur when an individual has a definite set of expectations (usually tacit) and the wherewithal to interpret the violation (usually by placing it in a narrative framework). Pleasures of the mind differ in the objects of the emotions they comprise. There is probably a
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Introduction, 99. — I. Some general features of rational choice, 100.— II. The essential simplifications, 103. — III. Existence and uniqueness of solutions, 111. — IV. Further comments on dynamics, 113. — V. Conclusion, 114. — Appendix, 115.
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Hedonic adaptation refers to a reduction in the affective intensity of favorable and unfavorable circumstances. This chapter discusses the purposes, underlying mechanisms, and most common functional representations of hedonic adaptation. The authors then examine some of the methodological problems that hamper research in this area and review the literature on adaptation in 4 negative domains (noise, imprisonment, bereavement, and disability), and 4 positive domains (foods, erotic images, increases in wealth, and improvements in appearance produced by cosmetic surgery). Following this review, the authors discuss several circumstances that promote or impede hedonic adaptation. They conclude by discussing the dark side of hedonic adaptation—the negative consequences for individuals and society. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
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(This partially reprinted article originally appeared in Psychological Review, 1956, Vol 63, 81–97. The following abstract of the original article appeared in PA, Vol 31:2914.) A variety of researches are examined from the standpoint of information theory. It is shown that the unaided observer is severely limited in terms of the amount of information he can receive, process, and remember. However, it is shown that by the use of various techniques, e.g., use of several stimulus dimensions, recoding, and various mnemonic devices, this informational bottleneck can be broken. 20 references. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
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In this paper I have attempted to identify some of the structural characteristics that are typical of the "psychological' environments of organisms. We have seen that an organism in an environment with these characteristics requires only very simple perceptual and choice mechanisms to satisfy its several needs and to assure a high probability of its survival over extended periods of time. In particular, no "utility function' needs to be postulated for the organism, nor does it require any elaborate procedure for calculating marginal rates of substitution among different wants.
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A variety of researches are examined from the standpoint of information theory. It is shown that the unaided observer is severely limited in terms of the amount of information he can receive, process, and remember. However, it is shown that by the use of various techniques, e.g., use of several stimulus dimensions, recoding, and various mnemonic devices, this informational bottleneck can be broken. 20 references. (PsycINFO Database Record (c) 2006 APA, all rights reserved).
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The negative aspects of the option of a wide variety of products for the customers is discussed. A wide variety of choice created negative emotions because of related high opportunity costs. The rise in opportunity costs arises due to the need for assessment of the quality of all the alternatives before deciding on the best option. People also feel depressed because of the opportunities they have foregone by using a product.
Hedonic adaptation Well-being: The foundations of hedonic psychology
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Frederick, S., & Loewenstein, G. (1999). Hedonic adaptation. In D. Kahneman, E. Diener, & N. Schwarz (Eds.), Well-being: The foundations of hedonic psychology (pp. 302–329). New York: Russell Sage.
[Maximizing tendencies: Evidence from a national sample
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Well-being: The foundations of hedonic psychology
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Loewenstein, G., & Schkade, D. (1999). Wouldn't it be nice? Predicting future feelings. In D. Kahneman, E. Diener, & N. Schwarz (Eds.), Well-being: The foundations of hedonic psychology (pp. 85-108). New York: Russell Sage.