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Iyengar, S. S., & Lepper, M. R. (2000). When choice is demotivating: Can one desire too much of a good thing?. Journal of personality and social psychology, 79(6), 995.
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Jam tasting: experiments with different numbers of jams on display
- People stopping to sample, 40% for 6 types, 60% for 24 types
- of those who tasted the food will buy it, 30% for 6 types, 3% for 24 types
relevance
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401K Retirement Savings Plan
- Number of funds to choose from varies by plan
- If two funds, 75% subscription rate
- If there are 60 funds, the subscription rate is 60
- The more options available, the higher the tendency of subscribers to avoid stocks and equity funds.
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When giving them multiple decisions, it is better to show them the choices in order from the least to the most popular, so that a smaller percentage will choose the standard setting.
- Levav, Jonathan, et al. “Order in product customization decisions: Evidence from field experiments.” Journal of Political Economy 118.2 (2010): 274-299.
- Levav, Jonathan, et al. “The effect of attribute order and variety on choice demotivation: a field experiment on German car buyers.” ACR North American Advances (2007).
- 750 people who actually custom order a car are divided into two groups, with one group presented in order of most options and the other group presented in order of least options
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Leverb: I think it’s because we surveyed people who really buy cars. We tried to replicate a similar experiment in our lab, but it didn’t work. The phenomenon of brain fatigue when you keep making decisions can only be seen when you are really making a choice.
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