When one desires too much of a good thing: The compromise effect under maximizing tendencies

Journal of Consumer Psychology · 2016 · Volume 26 · Issue 1

DOI: 10.1016/j.jcps.2015.04.007

Abstract

The maximizing tendency denotes individuals' predisposition to look for the best option rather than settling for something that passes an internal threshold of acceptability. This research examines how maximizing affects the compromise effect: the preference for an option with relatively intermediate attribute values. Results show that maximizers attempt to maximize gains on all attributes (rather than to rely on a single, most important attribute as satisficers do) and make more compensatory tradeoffs, which leads to more often choosing a compromise option (Studies 2 & 3). Results held whether maximization was measured as an individual difference variable (Studies 1 & 2) or activated as a decision mindset (Study 3). When asked to make decisions for a (fictional) prototypical maximizer, however, people intuited fewer compromise choices (Study 4). This article concludes by discussing relevant theories on cognitive capacity, regulatory focus, and choice context effects, and by offering tangible suggestions for follow-up research.

Keywords

Maximizing, Satisficing, Compromise effect, Compensatory processing, Consumer choice

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