Decision Making Processes in Risky and Non-Risky Consumer Product Selection

1995 ◽  
Vol 39 (5) ◽  
pp. 356-360
Author(s):  
Cassie B. Barlow ◽  
Amy J. Hammond
Keyword(s):  
Decision Making ◽  
Oral Contraceptive ◽  
Information Search ◽  
Health Care Professionals ◽  
Information Acquisition ◽  
Gambling Behavior ◽  
Consumer Product ◽  
Product Selection ◽  
Decision Making Processes ◽  
Decision Tasks

Decision making in the domain of risk has traditionally been studied by examining gambling behavior. The control of outcome probabilities obtained in these paradigms masks much of the subjective nature of everyday risk decision choices, such as product selection and information search patterns. A study was undertaken to examine decision making processes in Risky and NonRisky consumer product decision tasks. Subjects completed two Information Display Board (IDB) decision tasks, one selecting a Risky consumer product (oral contraceptive) and one selecting a NonRisky consumer product (toothpaste). The results supported the hypotheses that consumers view the decisions to purchase risky and non-risky products differently and use different patterns of information acquisition in making decisions in the selection of these products. Few anticipated differences were found between Experienced and NonExperienced users of oral contraceptives in information acquisition. Implications for health care professionals providing oral contraceptive information to patients are discussed.

scholarly journals Subjective Knowledge, Perceived Risk, and Information Search when Purchasing a Franchise: A Comparative Exploration from Australia

2021 ◽  
Vol 14 (8) ◽  
pp. 338
Author(s):  
Peter Balsarini ◽  
Claire Lambert ◽  
Maria M. Ryan ◽  
Martin MacCarthy
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Perceived Risk ◽  
Traditional Approach ◽  
Growth Strategy ◽  
Local Market ◽  
Significant Information ◽  
Subjective Knowledge ◽  
Decision Making Processes ◽  
The Relationship

Franchising has long been a method by which organizations seek to expand and facilitate local market development. However, franchising as a growth strategy can often be hampered by lack of suitable franchisees. To mitigate this shortage, some franchisors have engaged in recruiting franchisees internally from the ranks of their employees in addition to the traditional approach of recruiting franchisees externally. Predominantly franchisees are individuals rather than corporations and thus purchasing a franchise should most commonly be characterized as a consumer acquisition. To explore the relationship between subjective knowledge, perceived risk, and information search behaviors when purchasing a franchise qualitative interviews were conducted with franchisees from the restaurant industry. Half of these respondents were externally recruited having never worked for the franchisor and half were internally recruited having previously been employees of the franchisor. The external recruits expressed a strong desire to own their own business and engaged in extensive decision-making processes with significant information search when purchasing their franchises. Contrastingly, the internal recruits expressed a strong desire to be their own boss and engaged in limited, bordering on habitual decision-making processes with negligible information search when acquiring their franchises. The results reveal that differences in subjective knowledge and perceived risk appear to significantly impact the extent of information search between these two groups. A model of the relationship between subjective knowledge, perceived risk and information search in the purchasing of a franchise is developed that reconciles these findings. The findings also have practical implications for franchisors’ franchisee recruiting efforts which are integral to their capacity to develop local markets.

Examining Decision-Making Strategies Based on Information Acquisition and Information Search Time

2002 ◽  
Vol 46 (3) ◽  
pp. 501-505 ◽  
Author(s):  
Julie L. Marble ◽  
Heather D. Medema ◽  
Susan G. Hill
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Information Acquisition ◽  
Search Time ◽  
The United States ◽  
Decision Makers ◽  
Final Decision ◽  
Decision Style ◽  
Decision Confidence ◽  
Trade Offs

Eight participants reviewed a multimedia presentation regarding the hypoxic zone phenomenon in a role-play as a legislator's aide. They rated the phenomenon's importance to the United States and indicated what portion of the legislator's budget to devote to research of it. After viewing a segment of the presentation, participants indicated their distance to a decision and confidence that would be their final decision. Interviews after each segment revealed two decision strategies: slow movement toward a decision, or abrupt decision-making after approximately half the presentation. Decision style was correlated with decision confidence. These two groups differed in their trade-offs of willingness to spend time in information search and need for more information. Slow decision makers were less confident about their final decision; acquisition of information was more critical than time spent on the information search. Abrupt decision-makers were more confident of their final decision; minimizing time spent in information search was more critical than information acquisition.

scholarly journals How do healthcare professionals make decisions concerning low-value care practices? Study protocol of a factorial survey experiment on de-implementation

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Marta Roczniewska ◽  
Ulrica von Thiele Schwarz ◽  
Hanna Augustsson ◽  
Per Nilsen ◽  
Sara Ingvarsson ◽  
...  
Keyword(s):  
Health Care ◽  
Decision Making ◽  
Health Care Professionals ◽  
Healthcare Professionals ◽  
Factorial Survey ◽  
Survey Experiment ◽  
Factors Affecting ◽  
Vignette Study ◽  
Decision Making Processes ◽  
Care Practices

Abstract Background A large number of practices used in health care lack evidence of effectiveness and may be unnecessary or even cause harm. As such, they should be de-implemented. While there are multiple actors involved in de-implementation of such low-value care (LVC) practices, ultimately, the decision to abandon a practice is often made by each health care professional. A recent scoping review identified 6 types of factors affecting the utilization vs. abandonment of LVC practices. These factors concern health care professionals, patients, outer context, inner context, processes, and the characteristics of LVC practice itself. However, it is unclear how professionals weigh these different factors in and how these determinants influence their decisions about abandoning LVC practices. This project aims to investigate how health care professionals account for various factors as they make decisions regarding de-implementation of LVC practices. Methods This project will be carried out in two main steps. First, a factorial survey experiment (a vignette study) will be applied to empirically test the relevance of factors previously identified in the literature for health care professionals’ decision-making about de-implementation. Second, interactive workshops with relevant stakeholders will be carried out to develop a framework for professionals’ decision-making and to offer suggestions for interventions to support de-implementation of LVC practices. Discussion The project has the potential to contribute to improved understanding of the decision-making involved in de-implementation of LVC practices. We will identify which factors are more important when they make judgments about utilizing versus abandoning LVC practices. The results will provide the basis for recommendations concerning appropriate interventions to support de-implementation decision-making processes.

scholarly journals Risk-Specific Search for Risk-Defusing Operators

2008 ◽  
Vol 67 (1) ◽  
pp. 29-40 ◽  
Author(s):  
Martina Wilke ◽  
Heike Haug ◽  
Joachim Funke
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Classification Criteria ◽  
Decision Makers ◽  
Health Economy ◽  
Thinking Aloud ◽  
Normal Medium ◽  
Formal Classification ◽  
Decision Making Processes ◽  
Specific Search

Active risk-defusing behavior is that performed by decision makers in risky situations when they look for additional actions that decrease the risk and allow them to favor a riskier alternative. Our study demonstrates that risk-defusing behavior depends on the type of risk (normal, medium, catastrophic, or global) as well as on the domain (health, economy, or ecology). In total, 12 scenarios (four types of risk from three risk domains each) were constructed. Using the interview techniques of active information search and thinking aloud, we conducted 120 interviews about decision-making processes with these scenarios. The results showed that active search for different risk-defusing operators depends on the type of risk, but even more on the domain of the scenario. Results suggest a need for further research about a typology of risk situations in which, besides formal classification criteria, content issues are also explored.

Knowledge, Adaptivity, and Performance in Tax Research

2005 ◽  
Vol 80 (2) ◽  
pp. 703-722 ◽  
Author(s):  
Anne M. Magro
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Research Performance ◽  
Institutional Knowledge ◽  
Tax Professionals ◽  
Extensive Information ◽  
And Performance ◽  
Tax Research ◽  
Tax Practice ◽  
Decision Tasks

The ability to adapt decision making to the features of decision tasks and contexts is likely an important component of professional decision making, but not all professionals will exhibit this adaptivity. One explanation for decision makers' failure to adapt when adaptivity is appropriate is that they do not possess relevant knowledge of the features of decision tasks and contexts, or institutional knowledge. In this study, I examine the relations between institutional knowledge, information search adaptivity, and performance using an experimental research design in the tax decision-making setting. The results of the study are consistent with predictions. Tax professionals with relevant institutional knowledge responded to the differential features of the taxplanning and compliance contexts by conducting broader and more extensive information search in planning than in compliance; professionals lacking institutional knowledge did not exhibit such information search adaptivity. In addition, tax research performance increased with information search adaptivity, and that adaptivity mediated the relation between institutional knowledge and tax research performance. This study extends the accounting and psychology adaptivity literatures and contributes to tax practice and education.

The Egocentrism of Entrepreneurs: Bias in Comparative Judgments

2017 ◽  
Vol 9 (1) ◽  
Author(s):  
Jiseon Shin ◽  
Sang Kyun Kim
Keyword(s):  
Decision Making ◽  
Information Acquisition ◽  
Market Entry ◽  
Cognitive Biases ◽  
New Ventures ◽  
Comparative Judgment ◽  
Decision Making Process ◽  
Rational Decision Making ◽  
Decision Making Processes ◽  
Three Stages

Abstract Research in entrepreneurship decision making assumes that entrepreneurs use a relatively distinct decision-making process when it comes to market entry. Building on a biased comparative-judgment-formation framework and egocentrism theory, this article theorizes a model of entrepreneurs’ egocentric market entry decisions. Specifically, we illustrate how entrepreneurs may be vulnerable to cognitive biases in the three stages of decision making: information acquisition, evaluation, and comparative judgment formation. This article contributes to understanding the high failure rate of new ventures by suggesting that egocentric and myopic decision-making processes on the part of entrepreneurs may impede rational decision making.

scholarly journals A study of secondary students’ decision-making processes with respect to information use, particularly students’ judgements of relevance and reliability

2021 ◽  
Author(s):  
Curtis L. Watson
Keyword(s):  
Decision Making ◽  
Secondary Students ◽  
Information Search ◽  
Information Seeking ◽  
School Students ◽  
Search Tasks ◽  
Eastern Australia ◽  
Decision Making Processes ◽  
Research Questions ◽  
Relevance And Reliability

This report details an ongoing investigation of the decision-making processes of a group of secondary school students in south-eastern Australia undertaking information search tasks. The study is situated in the field of information seeking and use, and, more broadly, in decision making. Research questions focus on students’ decisions about the relevance and reliability of information. Data collected include video screen captures, think-aloud reports, and interviews. Qualitative data analysis developed a preliminary grounded theory to describe decision-making processes. Students depended on system-provided relevance cues, rejected particular resource categories, examined remaining items for general and specific relevance, and primarily used a process of corroboration to assess reliability. Selected implications for educators are raised.

Cognitive Processing of Miscommunication in Interactive Listening: An Evaluation of Listener Indecision and Cognitive Effort

2021 ◽  
pp. 1-17
Author(s):  
Jennifer M. Roche ◽  
Arkady Zgonnikov ◽  
Laura M. Morett
Keyword(s):  
Decision Making ◽  
Cognitive Processing ◽  
Language Processing ◽  
Cognitive Effort ◽  
Mouse Tracking ◽  
Computer Mouse ◽  
Decision Making Processes ◽  
Computer Mouse Tracking ◽  
Listening Task ◽  
Processing Effort

Purpose The purpose of the current study was to evaluate the social and cognitive underpinnings of miscommunication during an interactive listening task. Method An eye and computer mouse–tracking visual-world paradigm was used to investigate how a listener's cognitive effort (local and global) and decision-making processes were affected by a speaker's use of ambiguity that led to a miscommunication. Results Experiments 1 and 2 found that an environmental cue that made a miscommunication more or less salient impacted listener language processing effort (eye-tracking). Experiment 2 also indicated that listeners may develop different processing heuristics dependent upon the speaker's use of ambiguity that led to a miscommunication, exerting a significant impact on cognition and decision making. We also found that perspective-taking effort and decision-making complexity metrics (computer mouse tracking) predict language processing effort, indicating that instances of miscommunication produced cognitive consequences of indecision, thinking, and cognitive pull. Conclusion Together, these results indicate that listeners behave both reciprocally and adaptively when miscommunications occur, but the way they respond is largely dependent upon the type of ambiguity and how often it is produced by the speaker.

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