Designing a Sequential Choice Architecture to Reduce Choice Overload

Event Details
  • Date/Time:
    • Friday August 31, 2012
      2:00 pm - 3:30 pm
  • Location: Old CE Building, Room G10
  • Phone:
  • URL:
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  • Fee(s):
    N/A
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Contact

Juan Moreno-Cruz,   juan.moreno-cruz@econ.gatech.edu

404-385-1100

Summaries

Summary Sentence: Tibor Besedes, presents at School of Economics 2012 Fall Seminar Series

Full Summary: Presentation by Tibor Besedes,Economics - "Designing a Sequential Choice Architecture to Reduce Choice Overload".

Abstract

Previous studies have demonstrated that a multitude of options can lead to choice overload reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A specific tournament-style architecture achieves this goal. An alternate architecture in which subjects compare each subset of options to the most preferred option encountered thus far fails to improve performance due to the status quo bias. Subject preferences over different choice architectures are negatively correlated with performance, suggesting that providing choice over architectures might reduce the quality of decisions.

 

 

 

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Additional Information

In Campus Calendar
Yes
Groups

Ivan Allen College of Liberal Arts, School of Economics, School of Literature, Media, and Communication, School of Modern Languages, Sam Nunn School of International Affairs, School of History and Sociology, School of Public Policy

Invited Audience
No audiences were selected.
Categories
Seminar/Lecture/Colloquium
Keywords
choice architecture, choice overload, economics, tibor besedes
Status
  • Created By: Carol Silvers
  • Workflow Status: Published
  • Created On: Aug 27, 2012 - 2:25pm
  • Last Updated: Oct 7, 2016 - 9:59pm