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When less is enough: Cognitive aging, information search, and decision quality in consumer choice

Mata, Rui and Nunes, Ludmila. (2010) When less is enough: Cognitive aging, information search, and decision quality in consumer choice. Psychology and Aging, 25 (2). pp. 289-298.

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Official URL: http://edoc.unibas.ch/46301/

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Abstract

We conducted a meta-analysis of age differences in predecisional information search (N = 1,304) that suggests that aging is associated with a small but significant decrease in predecisional information search (Hedges's g = -0.30). In addition, we investigated the consequences of limited information search for decision quality in real-world consumer environments using simulation methods. Overall, the results suggest that the aging decision maker can afford to neglect information because this leads to small losses in decision quality. In other words, less may be enough for the aging consumer.
Faculties and Departments:07 Faculty of Psychology > Departement Psychologie > Ehemalige Einheiten Psychologie > Cognitive and Decision Sciences (Hertwig)
07 Faculty of Psychology > Departement Psychologie > Forschungsbereich Sozial-, Wirtschafts- und Entscheidungspsychologie > Cognitive and Decision Sciences (Mata)
UniBasel Contributors:Mata, Rui
Item Type:Article, refereed
Article Subtype:Research Article
Publisher:American Psychological Association
ISSN:0882-7974
e-ISSN:1939-1498
Note:Publication type according to Uni Basel Research Database: Journal article
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Last Modified:29 Nov 2017 09:33
Deposited On:29 Nov 2017 09:33

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