Taking Decisions Too Seriously: Why Maximizers Often Get Mired in Choices

Area of Science:

• Decision-making psychology
• Consumer behavior research
• Behavioral economics

Background:

• Maximizing tendency is well-researched, yet the underlying reasons for preferring larger assortments remain unclear.
• Understanding maximizers' decision-making processes is crucial for both academic and corporate contexts.

Purpose of the Study:

• To investigate the psychological mechanism behind maximizers' consistent preference for larger assortments.
• To explore whether perceived decision importance mediates this preference.

Main Methods:

• Four surveys conducted with 922 participants recruited via online platforms (Mturk, Credamo).
• Measurement of maximizing tendency using established scales.
• Assessment of perceived decision importance and assortment preference across various scenarios.

Main Results:

• Maximizers consistently perceived decisions as more important than satisficers.
• Perceived importance significantly mediated the relationship between maximizing tendency and assortment preference.
• Cost salience was identified as a boundary condition influencing this effect.

Conclusions:

• Maximizers' preference for large assortments stems from their tendency to perceive all decisions, even minor ones, as highly important.
• This research offers novel insights into the psychological drivers of assortment choice in maximizing individuals.