Taking Decisions Too Seriously: Why Maximizers Often Get Mired in Choices.

Abstract

Maximizing is a topic that has received significant attention from researchers and corporate organizations alike. Although extensive previous research has explored how maximizers behave in a decision scenario, a fundamental question remains about why they prefer a larger assortment regardless of whether the decisions are important or not. This study attempts to explore the underlying mechanism of this phenomenon. Four surveys were conducted, and participants from Mturk or Credamo online platforms were recruited (N = 922). The maximizing tendency was measured by either maximization scale or maximizing tendency scale, and perceived importance and preference for a large assortment were measured in different decision scenarios. Across four studies, we find that maximizers perceive the same decision as more important than satisficers (Study 1), and perceived importance serves as the mechanism underlying the maximizers’ preference for a large assortment (Study 2). In other words, in maximizers’ perceptions and interpretations, even seemingly trivial decisions are important enough to spend great effort on a large assortment. We additionally identified a boundary condition for the effect – cost salience (Studies 3a and 3b). These findings illustrate a pioneering empirical exploration of the difference in the way maximizers and satisficers perceive their decision importance and the reason for maximizers’ preference for a large assortment.