Erica Carranza Sheena Iyengar () (School of Business, Columbia University)
Abstract
We examine how the size of an option set and the mode in which the options are processed interact to influence the experience of making a choice. Two studies show that elaborative processing enhances positive affect when consumers choose from limited options but depletes positive affect when consumers choose from extensive options. In addition, although elaboration increases outcome confidence, choosing from extensive options decreases outcome confidence. Taken together, these results suggest a catch-22 for consumers facing extensive choice: While elaborating on their options will diminish their positive mood, failing to elaborate will diminish their confidence in the outcomes they choose.
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Publisher Info
Paper provided by Institute for Advanced Study, School of Social Science in its series Economics Working Papers with number
0071.