The impact of time constraint on information search strategies in complex choice tasks

Weenig, Mieneke W. H.; Maarleveld, M.

doi:10.1016/s0167-4870(02)00134-4

Cited by 72 publications

(54 citation statements)

References 12 publications

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“…The strategy of acceleration implies that the consumer works faster by spending less time on each attribute in order to be able to consider as much information as possible (Ben Zur & Breznitz, 1981). The strategy of selection consists of filtering information and focusing on the most important and meaningful attributes and in particular on negative information (Wrigth, 1974;Ben Zur & Breznitz, 1981;Svenson & Eland, 1987;Weenig & Maarleveld, 2002). For example, in a probabilistic inference task, Rieskamp and Hoffrage (1999) asked participants to select the company with the highest profits from four unnamed companies, described by several cues.…”

Section: When Time Pressure Improves Decision Makingmentioning

confidence: 99%

Sometimes it is not so bad to decide in a hurry: Influence of different levels of temporal opportunity on the elaboration of purchasing intention

Giger¹,

Pochwatko²

2008

Polish Psychological Bulletin

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Section: When Time Pressure Improves Decision Makingmentioning

confidence: 99%

Sometimes it is not so bad to decide in a hurry: Influence of different levels of temporal opportunity on the elaboration of purchasing intention

Giger¹,

Pochwatko²

2008

Polish Psychological Bulletin

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“…There is, in other words, a trade-off between the statistical efficiency and cognitive efficiency of study designs (Hensher, 2006;Johnson, 2006;Maddala et al, 2003). Following from these arguments, a larger number of choice sets may result in greater inaccuracy because of 'behavioural noise' or, even worse, in biased results due to a shift in the decision strategy to simpler information search and non-compensatory decision-making, such as the adaptation of heuristics (Payne, 1976;Weenig and Maarleveld, 2002).…”

Section: Introductionmentioning

confidence: 99%

Does the number of choice sets matter? Results from a web survey applying a discrete choice experiment

2011

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Optimising the design of discrete choice experiments (DCE) involves maximising not only the statistical efficiency, but also how the nature and complexity of the experiment itself affects model parameters and variance. The present paper contributes by investigating the impact of the number of DCE choice sets presented to each respondent on response rate, self-reported choice certainty, perceived choice difficulty, willingness-to-pay (WTP) estimates, and response variance. A sample of 1053 respondents was exposed to 5, 9 or 17 choice sets in a DCE eliciting preferences for dental services. Our results showed no differences in response rates and no systematic differences in the respondents' self-reported perception of the uncertainty of their DCE answers. There were some differences in WTP estimates suggesting that estimated preferences are to some extent context-dependent, but no differences in standard deviations for WTP estimates or goodness-of-fit statistics. Respondents exposed to 17 choice sets had somewhat higher response variance compared to those exposed to 5 choice sets, indicating that cognitive burden may increase with the number of choice sets beyond a certain threshold. Overall, our results suggest that respondents are capable of managing multiple choice sets - in this case 17 choice sets - without problems.

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“…This explanation might lead to the same results for the different formats in Study 2 but cannot explain why the basic hypothesis still holds across Studies 1 and 3. In addition, Weening and Maarleveld (2002) indicate that participants tend to process information according to attributes so that they may reduce the considerable number of options from the beginning, when a lot of information or options exist in the decision task. For their final decision process, though, participants prefer a compensatory information strategy among the considerable number of options.…”

Section: Discussionmentioning

confidence: 99%

Information format‐option characteristics compatibility and the compromise effect

Chang

Liu

2008

Psychology and Marketing

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When consumers make a decision under preference uncertainty, they often select the compromise choice. Since the compromise effect of the middle option stems from the relational properties of the choice alternatives, an information format compatible with their characteristics makes the middle option more salient and attractive. Focusing on three studies, this article demonstrates that the middle option is (1) more attractive when presented in the middle position; (2) more attractive when information is presented jointly rather than separately; and (3) most attractive when presented in an information display board format, less attractive in a list by attribute condition, and least attractive in a list by alternative condition. These findings imply that information processing strategies and information format-option characteristics compatibility work in tandem. These three studies thereby show that the information format-option characteristics compatibility effect is robust and that such compatibility effect is not due to different information processing strategies, which makes these results meaningful for marketing practice.

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The impact of time constraint on information search strategies in complex choice tasks

Cited by 72 publications

References 12 publications

Sometimes it is not so bad to decide in a hurry: Influence of different levels of temporal opportunity on the elaboration of purchasing intention

Sometimes it is not so bad to decide in a hurry: Influence of different levels of temporal opportunity on the elaboration of purchasing intention

Does the number of choice sets matter? Results from a web survey applying a discrete choice experiment

Information format‐option characteristics compatibility and the compromise effect

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