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Size, entropy, and density : what is the difference that makes the difference between small and large real-world assortments?

Fasolo, B. and Hertwig, R. and Huber, M. and Ludwig, M.. (2009) Size, entropy, and density : what is the difference that makes the difference between small and large real-world assortments? Psychology & marketing, Vol. 26, H. 3. pp. 254-279.

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Official URL: http://edoc.unibas.ch/dok/A5258342

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Abstract

Consumer research has shown the downsides of offering consumers too much choice and is now starting to explore moderators of the effect of assortment size on consumer decisions. Building on previous studies, this research examines two side effects of tyranny of choice in the marketplace: high assortment entropy and high density of attribute values. We analyze two supermarkets - one offering small, the other large assortments - to examine how size, entropy, and density relate in the marketplace. We find that larger supermarket assortments come with higher density and higher entropy. Simulations of various choice strategies in these marketplace assortments reveal that making selections from large high-density and high-entropy assortments is time consuming, and better choice quality is not a forgone conclusion, even for customers with ambitious aspirations.
Faculties and Departments:07 Faculty of Psychology > Departement Psychologie > Ehemalige Einheiten Psychologie > Cognitive and Decision Sciences (Hertwig)
UniBasel Contributors:Hertwig, Ralph
Item Type:Article, refereed
Article Subtype:Research Article
Bibsysno:Link to catalogue
Publisher:John Wiley
ISSN:0742-6046
Note:Publication type according to Uni Basel Research Database: Journal article
Last Modified:22 Mar 2012 14:25
Deposited On:22 Mar 2012 13:46

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