Skip to Main Content
 

Global Search Box

 
 
 
 

Files

File List


osu1354579940.pdf (1.05 MB)

ETD Abstract Container

Abstract Header

Maximizing, Satisficing and Their Impacts on Decision-Making Behaviors

Rim, Hye Bin
http://rave.ohiolink.edu/etdc/view?acc_num=osu1354579940

Abstract Details

2012, Doctor of Philosophy, Ohio State University, Psychology.
When making a decision, some individuals have a strong desire towards maximizing decisional outcomes (i.e., maximizing tendency), while others tend to aim for satisfactory outcomes that meet acceptability thresholds (i.e., satisficing tendency). This study is designed to extend the research on individual differences in maximizing and satisficing tendencies. In particular, the purpose of this research is twofold, which includes assessing the construct validity of the Maximization Inventory (MI) and exploring the impact of maximizing versus satisficing tendencies on one’s decision-making behaviors, in particular information acquisition and processing. To evaluate the construct validity of the MI scores empirically, the MI scores were examined with respect to their ability to predict the amount of effort participants exerted during decision-making (Study 1) and their degree of confidence in decision outcomes (Study 1 and 2). Additionally, the relationships between maximizing, satisficing, and decision-making behaviors were investigated in an experience-based gambling task (Study 1), a binary choice task (Study 2), and decision-making competence task (Study 3). Study results provide empirical evidence that the MI scores possess satisfactory construct validity. Additionally, findings from Study 1 and 2 indicate that maximizers tend to search for a large amount of information and to interpret the information conservatively. Maximizers’ information processing style, in turn, moderates the size of the decision-experience gap (Study 1) and the degree of information distortion present during the choice process (Study 2). The results from Study 3 suggest that neither maximizing nor satisficing are significantly related to one’s decision-making competence, defined as the ability to follow normative standards of optimal decision-making processes. Findings from the present research suggest that individual differences in the tendencies to maximize and satisfice significantly impact one’s decision-making behavior. Implications of the research results and unanswered questions for future research are discussed.
Thomas Nygren, PhD (Advisor)
Nancy Betz, PhD (Committee Member)
Ellen Peters, PhD (Committee Member)
103 p.
Psychology
Maximizing; Satisficing; Individual differences

Recommended Citations

Citations

  • Rim, H. B. (2012). Maximizing, Satisficing and Their Impacts on Decision-Making Behaviors [Doctoral dissertation, Ohio State University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=osu1354579940

    APA Style (7th edition)

  • Rim, Hye Bin. Maximizing, Satisficing and Their Impacts on Decision-Making Behaviors. 2012. Ohio State University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=osu1354579940.

    MLA Style (8th edition)

  • Rim, Hye Bin. "Maximizing, Satisficing and Their Impacts on Decision-Making Behaviors." Doctoral dissertation, Ohio State University, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=osu1354579940

    Chicago Manual of Style (17th edition)

osu1354579940
7,448
© 2012, all rights reserved.
This open access ETD is published by The Ohio State University and OhioLINK.