Can maximizer consumers’ regret be alleviated? The hidden benefits of default options
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Besharat, Ali
Ladik, Daniel
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Fortin, David
Ozanne, Lucie K
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Christchurch, New Zealand
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Abstract
When preference for the available options in a choice set is highly uncertain, it is common to go with the “default”, unless choosers actively change it to one of the non-default options. Our research shows that, even if defaults can increase the odds of selecting the most advantageous option in a choice set, they do not suit everyone. In particular, maximizers, who strive to get the best outcome in every situation, experience more regret with their choice when the set includes a default. However, we also find that prior choice tasks in which default options are provided attenuate the regret level of maximizers during a subsequent choice task that includes a default. Hence, we offer a new choice architecture (i.e., preliminary choice tasks with default options) so that maximizing consumers can benefit from a focal default option without experiencing regret.
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Marketing in a Post-Disciplinary Era ANZMAC 2016: Proceedings
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Carrillat, F; Besharat, A; Ladik, D, Can maximizer consumers’ regret be alleviated? The hidden benefits of default options, Marketing in a Post-Disciplinary Era ANZMAC 2016: Proceedings, 2016, pp. 65-65