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Maximizers and Satisficers: Can’t choose and Can’t reject

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  • Khare, Adwait
  • Chowdhury, Tilottama G.
  • Morgan, Jeremy

Abstract

Decision-makers show a status-quo bias when they cannot relinquish status quo selections. Maximizers tend to be regretful and indecisive, while satisficers tend to be content. Does this mean that maximizers will show a larger status-quo bias than satisficers? Could the reverse occur? To answer these questions, we study the ways in which the moderating effect of the maximization trait on the choose-reject status-quo bias (choosing few options but also rejecting few) is itself moderated by three contextual factors: information load, counterfactuals, and mood. Our results show that, compared to each other, both maximizers and satisficers show a larger choose-reject status-quo bias under compatible contextual factors. Maximizers do so when information load is high (study 1), and satisficers do so when experiencing a downward counterfactual (study 2) and positive mood (study 3). We believe that compatible contextual moods amplify the influence of maximization trait moods and drive our effects.

Suggested Citation

  • Khare, Adwait & Chowdhury, Tilottama G. & Morgan, Jeremy, 2021. "Maximizers and Satisficers: Can’t choose and Can’t reject," Journal of Business Research, Elsevier, vol. 135(C), pages 731-748.
    • Handle: RePEc:eee:jbrese:v:135:y:2021:i:c:p:731-748
    DOI: 10.1016/j.jbusres.2021.07.008
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