The Influence of Attitude Strength on Consideration Set Size: Strong Liking Results in Smaller Consideration Sets

2009 ◽  
Author(s):  
Jayati Sinha ◽  
Dhananjay Nayakankuppam ◽  
Joseph R. Priester
Keyword(s):  
Attitude Strength ◽  
Consideration Sets ◽  
Consideration Set ◽  
Set Size

The Reconstruction of Choice Value in the Brain: A Look into the Size of Consideration Sets and Their Affective Consequences

2014 ◽  
Vol 26 (4) ◽  
pp. 810-824 ◽  
Author(s):  
Hye-young Kim ◽  
Yeonsoon Shin ◽  
Sanghoon Han
Keyword(s):  
Practical Importance ◽  
Neural Mechanism ◽  
Consideration Sets ◽  
Consideration Set ◽  
Choice Making ◽  
Set Size ◽  
Level Of Satisfaction ◽  
Making Choices ◽  
Choice Satisfaction ◽  
Affective Consequences

It has been proposed that choice utility exhibits an inverted U-shape as a function of the number of options in the choice set. However, most researchers have so far only focused on the “physically extant” number of options in the set while disregarding the more important psychological factor, the “subjective” number of options worth considering to choose—that is, the size of the consideration set. To explore this previously ignored aspect, we examined how variations in the size of a consideration set can produce different affective consequences after making choices and investigated the underlying neural mechanism using fMRI. After rating their preferences for art posters, participants made a choice from a presented set and then reported on their level of satisfaction with their choice and the level of difficulty experienced in choosing it. Our behavioral results demonstrated that enlarged assortment set can lead to greater choice satisfaction only when increases in both consideration set size and preference contrast are involved. Moreover, choice difficulty is determined based on the size of an individual's consideration set rather than on the size of the assortment set, and it decreases linearly as a function of the level of contrast among alternatives. The neuroimaging analysis of choice-making revealed that subjective consideration set size was encoded in the striatum, the dACC, and the insula. In addition, the striatum also represented variations in choice satisfaction resulting from alterations in the size of consideration sets, whereas a common neural specificity for choice difficulty and consideration set size was shown in the dACC. These results have theoretical and practical importance in that it is one of the first studies investigating the influence of the psychological attributes of choice sets on the value-based decision-making process.

How Do Recommender Systems Lead to Consumer Purchases? A Causal Mediation Analysis of a Field Experiment

2021 ◽  
Author(s):  
Xitong Li ◽  
Jörn Grahl ◽  
Oliver Hinz
Keyword(s):  
Recommender Systems ◽  
Mediation Analysis ◽  
Search Costs ◽  
Consideration Sets ◽  
Consideration Set ◽  
Relevant Alternatives ◽  
Positive Effects ◽  
Online Retailers ◽  
Causal Mediation Analysis

The findings underscore the important role of consumers’ consideration sets in mediating the positive effects of recommender systems on consumer purchases. Practical strategies can be developed to facilitate the formation of the consideration sets. For example, to reduce consumers’ search costs and cognitive efforts, online retailers can display the recommended products in a descending order according to the predicted closeness of consumers’ preferences. Online retailers can further indicate the predicted closeness scores of consumers’ preferences for the recommended products. Given such a placement arrangement, consumers can quickly screen the recommended products and add the most relevant alternatives to their consideration sets, which should facilitate consumers’ shopping process and increase the shopping satisfaction. The findings also suggest that a larger consideration set due to the use of recommender systems could induce consumers to buy. Yet, it is difficult for consumers to manage many alternatives when the consideration set is very large. To facilitate consumers’ shopping process, online retailers need to consider strategies and tools that help consumers manage the alternatives in the consideration set in a better-organized manner and facilitate the comparison across the alternatives.

scholarly journals Revealed Preference with Limited Consideration

2018 ◽  
Vol 10 (1) ◽  
pp. 102-131 ◽  
Author(s):  
Thomas Demuynck ◽  
Christian Seel
Keyword(s):  
Sufficient Conditions ◽  
Revealed Preference ◽  
Household Consumption ◽  
Consideration Sets ◽  
Consideration Set ◽  
Consumption Choices ◽  
Consideration Set Formation ◽  
Necessary And Sufficient ◽  
Preference Tests ◽  
Basic Test

We derive revealed preference tests for models where individuals use consideration sets to simplify their consumption problem. Our basic test provides necessary and sufficient conditions for consistency of observed choices with the existence of consideration set restrictions. The same conditions can also be derived from a model in which the consideration set formation is endogenous and based on subjective prices. By imposing restrictions on these subjective prices, we obtain additional refined revealed preference tests. We illustrate and compare the performance of our tests by means of a dataset on household consumption choices. (JEL D11, D12, M31)

Combining the role of convenience and consideration set size in explaining fish consumption in Norway

Appetite ◽  
2009 ◽  
Vol 52 (2) ◽  
pp. 313-317 ◽  
Author(s):  
Asbjorn Warvik Rortveit ◽  
Svein Ottar Olsen
Keyword(s):  
Fish Consumption ◽  
Consideration Set ◽  
Set Size

scholarly journals Managing sub-branding affect transfer: the role of consideration set size and brand loyalty

2014 ◽  
Vol 27 (1) ◽  
pp. 103-113 ◽  
Author(s):  
Yi He ◽  
Qimei Chen ◽  
Leona Tam ◽  
Ruby P. Lee
Keyword(s):  
Brand Loyalty ◽  
Consideration Set ◽  
Set Size ◽  
Affect Transfer

How Digital Word-of-Mouth Affects Consumer Decision Making: Evidence from Doctor Appointment Booking

2020 ◽  
Author(s):  
Aishwarya Deep Shukla ◽  
Guodong (Gordon) Gao ◽  
Ritu Agarwal
Keyword(s):  
Decision Making ◽  
Word Of Mouth ◽  
Three Dimensions ◽  
Consumer Decision Making ◽  
Consumer Decision ◽  
Consideration Set ◽  
Clickstream Data ◽  
Set Size ◽  
Online Word Of Mouth ◽  
Decision Making Processes

We use detailed clickstream data on online word-of-mouth (WOM) to uncover mechanisms underlying its influence on consumer decision making. A feature launch on a major doctor appointment booking platform allows us to examine the effects of online WOM on three dimensions of a consumer’s choice process: the consideration set size, the time taken to consider alternatives (web session duration), and the geographic dispersion of the choices considered. Results indicate that the effects of WOM on decision-making processes are not monotonic but rather are contingent on the abundance of WOM (number of rated doctors) in a market. When the abundance of WOM is high, the introduction of WOM makes patients consider fewer doctors, browse for a shorter duration, and focus on doctors that are geographically more proximate. In contrast, when the abundance of WOM is low, the introduction of WOM makes patients consider more doctors, browse for longer duration, and consider doctors that are geographically more dispersed. We also find that WOM can lead to a cannibalization effect: when ratings are published, the highly rated doctors reap the benefits (in the form of increased demand) at the expense of unrated doctors. Our study contributes to the extant literature on online WOM by providing new insights into how WOM influences consumer decision making and by examining this question at a more granular level than prior work. This paper was accepted by Anandhi Bharadwaj, information systems.

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