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Linda Lai (2010)
Journal: Judgment and Decision Making
Types: Article
Subjects: maximizing, satisficing, risk aversion, self-efficacy, decision difficulty.
This article presents several studies that replicate and extend previous research on maximizing. A modified scale for measuring individual maximizing tendency is introduced. The scale has adequate psychometric properties and reflects maximizers' aspirations for high standards and their preference for extensive alternative search, but not the decision difficulty aspect included in several previous studies. Based on this scale, maximizing is positively correlated with optimism, need for cognition, desire for consistency, risk aversion, intrinsic motivation, self-efficacy and perceived workload, whereas the association with regret is inconsistent. Analysis of correlates of the difficulty dimension suggests that decision difficulty should be conceptualized as a separate dimension rather than as a sub-dimension of maximizing. Opportunities for future research are suggested.
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