Do maximizers maximize for others? Self-other decision-making differences in maximizing and satisficing

Luan, Mo; Fu, Lisha; Hong, Li

doi:10.1016/j.paid.2017.09.009

Cited by 16 publications

(13 citation statements)

References 25 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Not only are maximizers prepared to go to great lengths to find the best options for themselves, but they are also willing to put forth that effort for others and will advise them to also search for better options (Luan et al, 2018). Maximizers display more counterfactual thinking to produce multiple arguments to inform their decision-making (Leach & Patall, 2013).…”

Section: Innovation and Entrepreneurial Intentionsmentioning

confidence: 99%

When ‘Good Enough’ Is Not Enough: The Role of Maximizing or Satisficing Decision-Making Styles, Innovation Behavior, and Entrepreneurial Alertness in the Pursuit of New Business Opportunities

Soltwisch

Syed

2022

Journal of Small Business Strategy

View full text Add to dashboard Cite

This paper investigates whether an individual’s tendency to maximize when making decisions influences their entrepreneurial intentions, innovation behavior, entrepreneurial alertness, and opportunity evaluation. It is predicted that maximizers will have greater entrepreneurial intentions. Underlying this process, it is predicted that maximizers will report greater innovation behavior and entrepreneurial alertness. Using data from a survey of 253 working professionals in the U.S., hypotheses are tested using multiple regression and mediation analysis. The results suggest that maximizers have higher entrepreneurial intentions, and that this relationship is mediated by their innovation behavior and entrepreneurial alertness. A second study is conducted with a survey of 192 students to explore how maximizers evaluate a specific entrepreneurial opportunity, and how their evaluation influences their entrepreneurial intentions. Using mediation analysis, findings of study 2 suggest that maximizers are more likely to see business opportunities as attractive, which increases their entrepreneurial intentions. The second study also replicates the main results of study 1 in a unique sample.

show abstract

Section: Innovation and Entrepreneurial Intentionsmentioning

confidence: 99%

When ‘Good Enough’ Is Not Enough: The Role of Maximizing or Satisficing Decision-Making Styles, Innovation Behavior, and Entrepreneurial Alertness in the Pursuit of New Business Opportunities

Soltwisch

Syed

2022

Journal of Small Business Strategy

View full text Add to dashboard Cite

show abstract

“…When making decisions in private contexts, maximizers no longer behave like maximizers (Luan & Li, 2019). When making decisions for others, satisficers are more likely to use maximizing strategies (Luan et al, 2018). Furthermore, Ma and Roese (2014) situationally activated maximizing or satisficing mindsets, under which people exhibited the characteristics of maximizers or satisficers.…”

Section: Within-person Variations Of Maximizationmentioning

confidence: 99%

Maximize when valuable: The domain specificity of maximizing decision-making style

Zhu

Wang

Xie³

2022

Judgm. decis. mak.

View full text Add to dashboard Cite

The maximizing decision-making style describes the style of one who pursues maximum utility in decision-making, in contrast to the satisficing style, which describes the style of one who is satisfied with good enough options. The current research concentrates on the within-person variation in the maximizing decision-making style and provides an explanation through three studies. Study 1 (N = 530) developed a domain-specific maximizing scale and found that individuals had different maximizing tendencies across different domains. Studies 2 (N = 162) and 3 (N = 106) further explored this mechanism from the perspective of subjective task value through questionnaires and experiments. It was found that the within-person variation of maximization in different domains is driven by the difference in the individuals’ subjective task value in the corresponding domains. People tend to maximize more in the domains they value more. Our research contributes to a comprehensive understanding of maximization and provides a new perspective for the study of the maximizing decision-making style.

show abstract

“…Maximisers attempt to optimise outcomes for themselves and others, and will put forth greater effort than satisficers to do so (Luan et al, 2018). In addition to wanting objectively better outcomes, they are more concerned with their relative standing (Weaver et al, 2015) and affected by social comparisons, especially with those who are doing better (Polman, 2010).…”

Section: The Role Of Eo and Momentioning

confidence: 99%

“…In fact, one study found that maximisers are willing to drive greater distances to ice cream parlours with 200 flavours rather than 20, because they prefer to have more options available (Dar-Nimrod et al, 2009). In addition to searching through more possibilities to find the best for themselves, maximisers put forth greater effort to optimise outcomes for others and will advise them to search for better options for themselves (Luan et al, 2018). For example, when purchasing a gift for others, maximisers spend more time and effort to browse for the best gift, and will even exchange the gift at the last minute if they think a better one is available (Chowdhury et al, 2008).…”

Section: The Role Of Eo and Momentioning

confidence: 99%

When the Quest for the Best Pays Off: How Maximising Entrepreneurs Improve Performance by Creating Entrepreneurial and Market Oriented Businesses

Soltwisch

2021

The Journal of Entrepreneurship

View full text Add to dashboard Cite

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.

show abstract

Do maximizers maximize for others? Self-other decision-making differences in maximizing and satisficing

Cited by 16 publications

References 25 publications

When ‘Good Enough’ Is Not Enough: The Role of Maximizing or Satisficing Decision-Making Styles, Innovation Behavior, and Entrepreneurial Alertness in the Pursuit of New Business Opportunities

When ‘Good Enough’ Is Not Enough: The Role of Maximizing or Satisficing Decision-Making Styles, Innovation Behavior, and Entrepreneurial Alertness in the Pursuit of New Business Opportunities

Maximize when valuable: The domain specificity of maximizing decision-making style

When the Quest for the Best Pays Off: How Maximising Entrepreneurs Improve Performance by Creating Entrepreneurial and Market Oriented Businesses

Contact Info

Product

Resources

About