Lure of choice as a determinant of economic decisions Cover Image

Powab swobodnego wyboru jako czynnik determinujący decyzje ekonomiczne
Lure of choice as a determinant of economic decisions

Author(s): Piotr Gasparski
Subject(s): Social Sciences, Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: lure of choice, economic decisions, cognitive heuristics

Summary/Abstract: The paper examines the ’lure of choice’ phenomenon. This is the tendency to select open situations that allow to take further choices over those that do not, even when the extra choices cannot improve the ultimate outcome. Five surveys were conducted which involved a total of 272 people. Their task was to assess credit offers, investment fund offers and bank deposits. It was hypothesized that multi-choice offers are rated higher than no-choice ones. The fi ndings confi rm this prediction. In the discussion it is stressed that the ‘lure of choice’ is an important cognitive heuristic affecting economic decisions.

  • Issue Year: 2015
  • Issue No: 2
  • Page Range: 209-228
  • Page Count: 20
  • Language: Polish
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