Maximization and Search for Alternatives in Decision Situations With and Without Loss of Options
Bibliographic Data
| ID | 12165876 |
|---|---|
| Authors | Andrea L Patalano (0000-0002-5829-7703, Department of Psychology Wesleyan University Middletown CT USA, corresponding author), Emma Lorraine Weizenbaum (Wesleyan University), Sydney L Lolli (Department of Psychology Wesleyan University Middletown CT USA), Alexandra Anderson (0000-0002-9976-0725, Department of Psychology Wesleyan University Middletown CT USA) |
| Year | 2015 |
| Volume | 28 |
| Issue | 5 |
| Pages | 411-423 |
| Publication date | 2015-03-10 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Behavioral Decision Making (JOURNAL) |
| Journal identifiers | ISSN: 0894-3257 • E-ISSN: 1099-0771 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/bdm.1856 |
| OpenAlex | W1943364895 |
| Language | EN |
| Citations received | 5 |
| References cited | 30 |
Maximizing tendency has been associated with greater accumulation of choice alternatives prior to selection of a preference. It is not known whether this search behavior extends to situations in which accumulation of new choice alternatives comes with the potential loss of existing ones. In Study 1, we replicate the original finding of greater accumulation of choice alternatives, using a computer‐based laboratory task. We then provide evidence, in Studies 2 and 3, that when potential loss of existing options is incorporated into the task, maximization is associated with less rather than more search for additional options. Maximization components of decision difficulty and alternative search, but not high standards or satisficing, explain this behavior. Other task measures are also collected, but few maximization‐related differences are observed. The findings support an interpretation of maximizers as decision makers who are as concerned with the potential loss of existing options as with the loss of undiscovered future ones. Copyright © 2015 John Wiley & Sons, Ltd
Economics · Loss aversion · Maximization · Microeconomics · Preference · Replicate · Revealed preference · Satisficing · Selection (genetic algorithm · Statistics · Task (project management · Computer Science · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Experimental Behavioral Economics Studies · Mathematics · Artificial Intelligence
Society and the Adolescent Self-Image
Perceiving an Object and Its Context in Different Cultures
The dimensions of perfectionism
Doing Better but Feeling Worse
Regulatory Mode
Resilience in the Face of Catastrophe
When choice is demotivating
Can There Ever Be Too Many Options? A Meta-Analytic Review of Choice Overload
Do Maximizers Predict Better than Satisficers
Indecisiveness and response to risk in deciding when to decide
Why are maximizers less happy than satisficers? Because they maximize positive and negative outcomes
Examining Behavioral Processes in Indecision
Behavioral inhibition, behavioral activation, and affective responses to impending reward and punishment
A Behavioral Model of Rational Choice
Maximizing versus satisficing
Eternal Quest for the Best
Option Attachment
| Unique citing works | 5 |
|---|---|
| Citations per year | 0.56 |
| Citation span | 2017 - 2026 (10) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |