Abstract
ABSTRACTThe paper applies a multilevel modeling approach in the study of individual behavior in choice experiments. The purpose is to study the relationship between choice time and several features of the choice task such as the number of choice alternatives, amount of choice information, and (dis)similarity of the choice alternatives. A special focus is on the difference in choice time between individuals who frequently maximize in choice making and their counterparts who are habitually satisficing. In total, 15 choice experiments were conducted (three versions of choice experiments for five different choice stimuli: restaurant, holiday resort hotel, smartphone, job, and project partner). The results show that choice time increases as choice tasks are more complex. As to the people's maximizing tendency, no significant differences in choice time are found between maximizers and satisficers.
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