Choose Quickly! The Influence of Cognitive Resource Availability on the Preference between the Intuitive and Externally Recommended Options

Jungkeun Kim, Jae-Eun Kim and Roger Marshall

Australasian marketing journal, 2020, vol. 28, issue 4, 263-272

Abstract: The issue addressed by this research is when does a decision-maker select his or her intuitive, default, option and when the option suggested by someone else? We introduce the idea that cognitive resource availability is a key to this question. When there are limited cognitive resources available either due to knowledge deficiencies or, perhaps, time pressure then the default option is more likely to be selected. When there is plenty of cognitive resource available, then it is more likely that a decision favoring a recommended option is made. We support this hypothesis with three experiments; within the context of buying a digital camera, in the Ultimatum Game, and in a decoy choice situation. The findings have significance in that they support and explicate current theory, and also to practice in that there are public services, as well as competitive business situations, when a particular choice outcome is socially beneficial.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:aumajo:v:28:y:2020:i:4:p:263-272

DOI: 10.1016/j.ausmj.2020.06.009

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