Tyranny of choice4/13/2023 The most obvious finding to emerge from the research is that policy must take into account all of these different factors if it is to effectively influence consumer choice. More fundamentally, the model neglects the wealth of other factors that determine individuals’ behaviour. In part, this stems from the fact that consumers rarely search out, read or properly digest all of the information that is available to them when making a decision. Both marketing and the behavioural sciences have proven this ‘information-deficit’ model to be deeply flawed. A common feature of standard economic thought is the belief that when individuals make poor choices it is the result of misinformation or a lack of information. In turn, while information provision and choice are important, neither necessarily leads to improved consumer decision-making or changes in consumer behaviour. The situation and the way in which information is presented. Rather than being consistent, consumer preferences have also been shown to be inconsistent, changing over time and according to Instead, they are strongly influenced by emotional factors, the behaviour of other people, by habits, and by the use of mental short-cuts, which all help to speed up decision-making. The project’s research findings are based on the results of a review of behavioural economics and marketing literature, and additional research with marketing professionals.Ĭontrary to the belief of many economists, consumers very rarely weigh-up the full costs and benefits of their purchasing decisions. Drawing together evidence from behavioural economics and marketing, this project sought to explore consumer behaviour relating to the purchasing of environmentally-preferable products. Given the unsettled state of the field, it is important to try to further understand when choice overload and pressure from digitalization occur and when these may trigger negative health consequences.Ĭonsumer behaviour in the real world often differs from that predicted by economics and policy. In our explorative study, we investigated two potential job demands in managers that, to our knowledge, have not yet been scientifically tested. Results showed that lower well-being was significantly associated with higher choice overload, but not with perceived pressure from digitalization. Using multivariate regression analysis, potential prognostic effects on well-being were tested. We conducted an online survey with a sample of 368 upper-level managers from a large ICT-company, where, at the time of the study, extensive transformation processes were taking place. We assumed that the extent of challenging cognitive demands at work is rising and negatively influencing managers’ psychological well-being. In the present study, we focused on two cognitive job demands in managers related to change due to digital transformation: perceived choice overload and pressure from digitalization. As a result, managers must drive change within a company and are involved in important decision-making processes. Due to the current digital transition, companies are under pressure to pursue digitalization and often initiate far-reaching transformation processes.
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