Trying Hard Or Hardly Trying - Choice Context Effects

Question 1

Effort-Accuracy framework

Answer 1

Consumers make trade-off between desire to make an accurate decision and minimize effort -> under time pressure less effort to simplify
=> strengthen the compromise option

Question 2

Perceptual framework

Answer 2

Consumers focus on the value of an option compared to other options -> focus on relative value -> time pressure weakens the context effect

Question 3

Results experiment

Answer 3

I - Time pressure decreases compromise effect (middle option)
=> perceptual framework confirmed

II - Time pressure decreases all-average option

III - Time pressure lets people focus on positive aspects and use non-compensatory, simplifying strategies

Question 4

Managerial implications

Answer 4

I - „extreme“ brands/products profit under time pressure decisions
II - Increase of variety in retail can harm the choice of intermediate options
III - average option products/brands may focus on time giving circumstances for consumers