An Analysis on the Impact of Choice Overload to Consumer Decision Paralysis

As consumers make purchase decisions, they often encounter a large number of options from which they base their choices. Traditional theories such as the Rational Choice theory imply that the more options involved, the more beneficial for the consumer. However, recent studies suggest otherwise. One such study is that of Choice Overload, a phenomenon in which individuals encounter difficulty when they are presented with too many options. Some studies show that Choice Overload causes paralysis in analysis in different industries. Decision Paralysis is the abandonment of making a decision due to overanalysis. The paper focused on proving if Decision Paralysis would take place when there is Choice Overload by analyzing whether the different antecedents of Choice Overload, namely Decision Task Difficulty, Choice Set Complexity, Preference Uncertainty, Decision Goal, and Asymmetric Information, would be affected by the number of options available. A survey was used to measure the different variables, and the data were analyzed through logistic regression and ordinary least squares regression. The results of this study indicate that Decision Task Difficulty and Asymmetric Information directly impact Choice Overload, which then contributes to the high probability of the occurrence of Decision Paralysis. It is difficult for consumers to choose when more options are offered; thus, abandoning their purchasing decision.

Comparison of the Effects of the Choice Theory and Behavioral Activation Therapies with and without Guided Imagery Rescripting on the Adversity Quotient and Cognitive Emotion Regulation of MS Patients in Ahvaz, Iran

Background: Complications of multiple sclerosis (MS) severely impact self-image and have debilitative effects on the adversity quotient. Objectives: The present study aimed to investigate the effects of the choice theory and behavioral activation therapies with and without guided imagery rescripting on the adversity quotient and cognitive emotion regulation of MS patients in Ahvaz, Iran. Methods: This quasi-experimental study was conducted with a pretest-posttest design and a control group. The sample population included the male and female MS patients visiting the Caspian Physiotherapy Center of Ahvaz, Iran in 2019. In total, 60 MS patients were selected via convenience sampling and randomly divided into three experimental groups and one control group (15 per each). Data were collected using the Adversity Response Profile Questionnaire (ARPQ) and the Cognitive Emotion Regulation Questionnaire (CERQ). Data analysis was performed using the multivariate analysis of covariance. Results: A significant difference was observed between the effects of the choice theory (CT) and behavioral activation (BA) therapies with and without guided imagery rescripting (ImRs) on the improvement of the adversity quotient (AQ) and positive cognitive emotion regulation (CER) of the MS patients, as well as the reduction of negative CER (P < 0.001). Compared to the CT and BA therapies without guided ImRs, the BA therapy with guided ImRs more effectively enhanced the AQ and positive CER of the MS patients and decreased their negative CER (P < 0.001). Conclusions: According to the results, BA with ImRs is a more effective method for enhancing the AQ and positive CER of MS patients and mitigating their negative CER compared to other approaches.

Behavioral Contract Law

This article explores some behavioral findings that are relevant to three areas of contract: formation, performance, and remedies. I compare the rational choice theory analysis of various aspects of contract law with how behavioral findings lead to a change in our understanding of that area of law. A penultimate section considers several criticisms of behavioral economics. A concluding section calls for altering some settled understandings of contract law to accommodate behavioral results and for further research about some still uncertain aspects of contracting.

Traveler Attitudes Toward Biometric Data-Enabled Hotel Services: Can Risk Education Play a Role?

This study compares attitudes toward the use of biometrics data-enabled services in hotels of prospective travelers before and after receiving information about the risks and benefits of disclosing biometric data and about how the disclosed data are being utilized. This was done based on a sample of 579 U.S. respondents, using a split-plot scenario-based experimental design. The results revealed that the respondents did not show enthusiastic support for biometrics-based hotel services. Most sampled respondents did not view such services as highly desirable or as having a positive influence on their sense of well-being. Significant demographic differences were observed between prospective travelers. Females and older respondents in particular provided significantly lower ratings of biometric-enabled services on both desirability and effects on well-being. Significant changes in respondents’ ratings were also observed when information was given about the risks and benefits of disclosing biometric data and how the disclosed data were being utilized. That is, respondents’ ratings were lower when information was given about the risks and for scenarios where the data were utilized in ways that increased risk. Overall, these results are consistent with rational choice theory and demonstrate a strong risk-education effect or information-nudge effect on consumer acceptance of commercial use in hotels of artificial intelligence technology. The study outcomes also provide insight for developing potential guardrails and parameters for designing intelligent hospitality services.

A Satisficing Heuristic Decision-Making Model under Limited Attention and Incomplete Preferences

Classical choice theory assumes that a decision-maker considers all feasible alternatives. However, a decision-maker in the real world can not consider all alternatives because of limited attention. In this paper, we propose a satisficing choice model to describe the choice procedure based on the incomplete preferences under the limited attention of the decision-maker. Moreover, the existence and rationality properties of the satisficing choice model on the different domains are studied combined with some proposed rationality conditions. Further, the proposed satisficing choice model is applied to a case of quality competition. Results show that the satisficing choice model of this paper is of a certain theoretical guiding significance to a kind of emergency decisions made by decision-makers under the circumstance of time pressure and limited information. It can also be the theoretical foundation for the study on the boundedly rational decision-making.

Factors Affecting Tourism Destination: A Case Study in Ha Tien City, Vietnam

On the basis of theories of tourism, services, rational choice theory and previous empirical studies, the study proposes a research framework including 6 factors affecting tourists’ decisions when choosing Ha Tien as a destination to visit. The research sample was carried out by surveying by questionnaire with 100 tourists who visited Ha Tien City. Evaluation of the reliability of the scales shows that the destination information factor has not yet ensured the reliability of the scale. Regression analysis shows that there are 3 out of 6 independent factors that most influence tourists’ decision to choose when choosing Ha Tien as a tourist destination. In which, environmental and landscape factors have the most influence on tourists’ decision to choose Ha Tien as a destination. As a result, the article proposes some solutions to contribute to attracting more and more tourists to Ha Tien City.

Social background and school track choice: An analysis informed by the rational choice framework

We investigate social inequalities based on social background in the choice of the academic track among equally performing students, and how indicators derived from the rational choice framework contribute to account for such inequalities. We discuss the main theoretical concepts underpinning rational choice theory as applied to educational decisions: perceived costs, benefits, and risks of failure; relative risk aversion; and time-discounting preferences. In the empirical section, we use a unique dataset concerning the transition to different tracks in upper secondary school in a large Southern Italian region. By using various regression methods and the Karlson/Holm/Breen decomposition technique, we show that social inequalities in access to the academic track are considerable, even in recent cohorts, and that they are largely not explained by previous academic performance. Indicators linked to key concepts proposed by the rational choice theory—as measured in this study—account, as a whole, for 31% of the gap based on parental education, and for 40% of the gap based on parental occupation. The most important sources of inequalities among those this study examines are the expected benefits associated with the educational alternatives and the time-discounting preferences, while relative risk aversion and the perceived chances of success play negligible roles.

Upshots for Other Debates

This chapter explores and draws out the consequences of both the dualist view of rationality defended in Part I and the theory of structural rationality defended in Part II for a series of standing debates in (meta)ethics and epistemology—including debates about moral rationalism, rational choice theory, higher-order evidence, the normativity of logic, epistemic permissivism, and conditionalization. It also considers and criticizes some popular ways of trying to account for the existence and force of coherence requirements in the formally inclined philosophical literature—namely, Dutch book and money pump arguments and accuracy dominance arguments.

Applying Constrained Choice Theory to Understand Adolescent Non-Vaccination

Research on non-vaccination tends to be framed as a result of specific parenting cultures or as a result of disparities in healthcare access. This project proposes applying constrained choice theory for gender and health to understand non-vaccination to integrate these two fields of research. Using the National Immunization -Teen, 2012-2019 (N=145,945), this study classifies parental reports of the reasons for non-vaccination for three adolescent vaccines (human papillomavirus [HPV], meningitis, and tetanus booster) into similar categories that are associated with varying types of constraints and examines the socio-demographic and vaccine specific differences in reasons for non-vaccination. Results reveal important differences the role of constraint for parents of different socio-demographic backgrounds, as well as the usefulness of considering vaccine specific motivations. Furthermore, constrained choice theory provides a useful framework for both understanding non-vaccination at a national level as well as for encapsulating a broad spectrum of reasons for non-vaccination.

The Limits of Behavioral Economics in Tort Law

Skeptics of rational choice theory have long predicted that behavioral economics would radically transform the legislation, adjudication, and analysis of law. Using tort law as an exemplar, this Article maps out the narrow set of conditions where substantive law can be modified to accommodate irrational decision-makers. Specifically, this Article demonstrates that if injurers are systematically biased, and the due care standard can be expressed quantitatively, and victims are unable to take meaningful precautions, then imposing punitive damages can induce irrational injurers to exercise efficient precautionary care. In all other cases, it is better that the law adopt a presumption of rationality, regardless whether individuals behave rationally in fact.