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Choice architecture is the process of encouraging people to make good choices through grouping and ordering the decisions in a way that maximizes successful choices and minimizes the number of people who become so overwhelmed by complexity that they abandon the attempt to choose. Generally, success is improved by presenting the smaller or ...
Presenting two items to a user and asking him/her to choose the better one of them. Asking a user to create a list of items that he/she likes (see Rocchio classification or other similar techniques). Examples of implicit data collection include the following: Observing the items that a user views in an online store. Analyzing item/user viewing ...
False memory in the context of choice-supportive biases is when items that were not part of the original decision are remembered as being presented. If these entirely new items are positive, they will be remembered as belonging to the chosen option and if they are negative, they will be remembered as belonging to the forgone option. [1]
This approach is particularly advantageous when it is not costly to downgrade an information good to create one or more lower quality versions [11] versioning involves a corporation offering its product in various versions and allowing customers to choose the one that suits them best. The goal for the corporation is to minimize expenses while ...
In other words, after choosing an alternative with a plurality but not a majority of utility, people remember the sum of the lost utility rather than that they made the "utility-maximizing" choice. Schwartz maintains that one of the downsides of making trade-offs is it alters how we feel about the decisions we face; afterwards, it affects the ...
Images increase our perceived variety of options. As previously stated, variety is good when making the first step of choosing an assortment. On the other hand, verbal descriptions are processed in a way that the words that make up a sentence are perceived individually. That is, our minds string words along to develop our understanding.
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The degree to which a good has a perfect substitute depends on how specifically the good is defined. The broader the definition of a good, the easier it is for the good to have a substitute good. On the other hand, a good narrowly defined will be likely to not have a substitute good.