Choosing with confidence: Self-efficacy and preferences for choice
Previous research on the role of choice set size in decision making has focused on decision outcomes and satisfaction. In contrast, little is known about interindividual differences in preferences for larger versus smaller choice sets, let alone the causes of such differences. Drawing on self-effica...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2012-03-01
|
| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/11/11919/jdm11919.pdf |
| _version_ | 1797766459975270400 |
|---|---|
| author | Andrew E. Reed Joseph A. Mikels Corinna E. Lockenhoff |
| author_facet | Andrew E. Reed Joseph A. Mikels Corinna E. Lockenhoff |
| author_sort | Andrew E. Reed |
| collection | DOAJ |
| description | Previous research on the role of choice set size in decision making has focused on decision outcomes and satisfaction. In contrast, little is known about interindividual differences in preferences for larger versus smaller choice sets, let alone the causes of such differences. Drawing on self-efficacy theory, two studies examined the role of decision-making self-efficacy in preferences for choice. Using a correlational approach, Study 1 (n = 89) found that decision-making self-efficacy was positively associated with preferences for choice across a range of consumer decisions. This association was found both between- and within-subjects. Study 2 (n = 65) experimentally manipulated decision-making self-efficacy for an incentive-compatible choice among photo printers. Preferences for choice and pre-choice information seeking were significantly lower in a low-efficacy condition compared to a high-efficacy condition and a control group. Future research directions and implications for decision-making theory and public policy are discussed. |
| first_indexed | 2024-03-12T20:25:38Z |
| format | Article |
| id | doaj.art-a31acf533e4248c382921c5e98a3f6e1 |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T20:25:38Z |
| publishDate | 2012-03-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-a31acf533e4248c382921c5e98a3f6e12023-08-02T00:35:01ZengCambridge University PressJudgment and Decision Making1930-29752012-03-0172173180Choosing with confidence: Self-efficacy and preferences for choiceAndrew E. ReedJoseph A. MikelsCorinna E. LockenhoffPrevious research on the role of choice set size in decision making has focused on decision outcomes and satisfaction. In contrast, little is known about interindividual differences in preferences for larger versus smaller choice sets, let alone the causes of such differences. Drawing on self-efficacy theory, two studies examined the role of decision-making self-efficacy in preferences for choice. Using a correlational approach, Study 1 (n = 89) found that decision-making self-efficacy was positively associated with preferences for choice across a range of consumer decisions. This association was found both between- and within-subjects. Study 2 (n = 65) experimentally manipulated decision-making self-efficacy for an incentive-compatible choice among photo printers. Preferences for choice and pre-choice information seeking were significantly lower in a low-efficacy condition compared to a high-efficacy condition and a control group. Future research directions and implications for decision-making theory and public policy are discussed.http://journal.sjdm.org/11/11919/jdm11919.pdfchoicedecision makingself-efficacyindividual differencesconsumer decisions.NAKeywords |
| spellingShingle | Andrew E. Reed Joseph A. Mikels Corinna E. Lockenhoff Choosing with confidence: Self-efficacy and preferences for choice Judgment and Decision Making choice decision making self-efficacy individual differences consumer decisions.NAKeywords |
| title | Choosing with confidence: Self-efficacy and preferences for choice |
| title_full | Choosing with confidence: Self-efficacy and preferences for choice |
| title_fullStr | Choosing with confidence: Self-efficacy and preferences for choice |
| title_full_unstemmed | Choosing with confidence: Self-efficacy and preferences for choice |
| title_short | Choosing with confidence: Self-efficacy and preferences for choice |
| title_sort | choosing with confidence self efficacy and preferences for choice |
| topic | choice decision making self-efficacy individual differences consumer decisions.NAKeywords |
| url | http://journal.sjdm.org/11/11919/jdm11919.pdf |
| work_keys_str_mv | AT andrewereed choosingwithconfidenceselfefficacyandpreferencesforchoice AT josephamikels choosingwithconfidenceselfefficacyandpreferencesforchoice AT corinnaelockenhoff choosingwithconfidenceselfefficacyandpreferencesforchoice |