Yes! Maximizers Maximize Almost Everything: The Decision-Making Style Is Consistent in Different Decision Domains

Area of Science:

• Psychology
• Behavioral Economics

Background:

• Decision-making literature differentiates maximizing and satisficing styles.
• Previous research suggests style stability in university students across limited domains.
• Generalizability to diverse adult populations, cultures, and critical domains like health and finance remains unexplored.

Purpose of the Study:

• To investigate the stability of maximizing and satisficing decision-making styles in Chilean adults.
• To examine if these styles are maintained across five distinct decision domains: health, life decisions, finances, services/experiences, and consumer goods.
• To assess potential variations based on sex and age within the Chilean sample.

Main Methods:

• A sample of 343 Chilean adults (52.6% male, aged 20-90) participated.
• Participants completed the Maximization Tendency Scale.
• Responses were collected for 45 items across five decision domains.

Main Results:

• An apparent coherence in decision-making styles (maximizing and satisficing) was observed across all five domains.
• The health domain exhibited the highest tendency towards maximization and demonstrated greater internal homogeneity.
• Decision-making styles showed general stability irrespective of sex and age in this population.

Conclusions:

• Maximizing and satisficing decision-making styles demonstrate consistency across major life domains in Chilean adults.
• The health domain is a notable area where maximization is prevalent and consistent.
• Findings support the generalizability of decision-making styles beyond student populations and Western cultures.