Reducing Choice Overload without Reducing Choices
|Title:||Reducing Choice Overload without Reducing Choices|
|Publication Date:||October 2015|
|Published In:||Review of Economics and Statistics|
Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A specific tournament-style architecture achieves this goal. An alternate architecture in which subjects compare each subset of options to the most preferred option encountered thus far fails to improve performance due to the status quo bias. Subject preferences over different choice architectures are negatively correlated with performance, suggesting that providing choice over architectures might reduce the quality of decisions.
|Ivan Allen College Contributors:|
|External Contributors:||Cary Deck, Sudipta Sarangi, and Mikhael Shor|
Besedes, Tibor, Cary Deck, Sudipta Sarangi, and Mikhael Shor. "Reducing Choice Overload without Reducing Choices," Review of Economics and Statistics (2015), 97(4): 793-802