Vast amounts of rapidly changing options, along with information provided via multiple sources, have also created information overload and thereby challenges to rational choice ( Lee and Cho, 2005). The rapid growth of e-commerce has paved the way to producing, retrieving, and distributing information ever more easily, faster, and cheaper ( Lee and Lee, 2004). When deciding on a purchase, consumers often face a plethora of information. Implications for effective consumer information are provided. In line with the assumption of ecological rationality, most successful search strategies were not exhaustive, but instead involved the focused selection and processing of a medium amount of information. The three groups differed not only in their information processing but also in the quality of their decisions. The three subgroups of respondents can be characterized as follows: (1) consumers with a low-effort and low-focus information processing strategy ( n = 137) (2) consumers with a moderate-effort and high-focus information processing strategy ( n = 124) and (3) consumers with high-effort and low-focus information processing strategy ( n = 102). Using information processing data obtained with tracking software, we identify three consumer segments differing along two dimensions – the extent dimension, referring to the overall effort invested in information processing, and the focus dimension, referring to the degree to which someone focuses on the best available options. Participants ( N = 363) chose a cellular service contract in a web-based environment that closely resembled actual online settings in the country of study. Using simulated contract conclusion scenarios, we identify distinctive types of information processing styles and find that certain search and selection strategies predict the quality of the final choice. Instead, the empirical evidence suggests that reviewing too much information or too many choice alternatives can impair decision quality. Extensively processing all available information does not necessarily promote good decisions. Yet, individuals consumers differ greatly in the amount of information they are willing and able to acquire and process before making purchasing decisions. When deciding on an online purchase, consumers often face a plethora of information. 7Department of Applied Psychology, University of Vienna, Vienna, Austria.6Development Bank of Austria, Vienna, Austria.5Interdisciplinary Research Centre for Technology, Work and Culture, Graz, Austria.4Department of Psychology, Bundeswehr University Munich, Munich, Germany.3Institute of Civil Law, Foreign Private Law and Private International Law, University of Graz, Graz, Austria. 2Department of Cognitive, Linguistic and Psychological Sciences, Brown University, Providence, RI, United States.1Department of Psychology, University of Graz, Graz, Austria.Krueger 2, Brigitta Lurger 3, Isabelle Dinslaken 4, Julian Anslinger 5, Florian Caks 6, Arnd Florack 7, Hilmar Brohmer 1 and Ursula Athenstaedt 1 Claudia Vogrincic-Haselbacher 1*, Joachim I.
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