Decision Making in Information-Rich Environments: The Role of Information Structure
AbstractToday's consumers are often overloaded with information. This article argues that traditional approaches to measuring the amount of information in a choice set fail to account for important structural dimensions of information and may therefore incorrectly predict information overload. Two experiments show that a structural approach to measuring information, such as information theory, is better able to predict information overload and that information structure also has important implications for information acquisition. A Monte-Carlo simulation, in which decision rules are applied to multiple information environments, shows that the amount of information processing mediates the relationship between information structure and information overload. Copyright 2004 by the University of Chicago.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Consumer Research.
Volume (Year): 30 (2004)
Issue (Month): 4 (March)
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- Marco Pelliccia, 2013. "Ambiguous Networks," Birkbeck Working Papers in Economics and Finance 1303, Birkbeck, Department of Economics, Mathematics & Statistics.
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- Bonsall, Peter & Shires, Jeremy & Maule, John & Matthews, Bryan & Beale, Jo, 2007. "Responses to complex pricing signals: Theory, evidence and implications for road pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(7), pages 672-683, August.
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