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Size, entropy, and density: what is the difference that makes the difference between small and large real-world assortments?

Fasolo, Barbara, Hertwig, Ralph, Huber, Michael and Ludwig, Mark (2009) Size, entropy, and density: what is the difference that makes the difference between small and large real-world assortments? Psychology and Marketing, 26 (3). pp. 254-279. ISSN 0742-6046

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Abstract

Consumer research has shown the downsides of offering consumers too much choice and is now starting to explore moderators of the effect of assortment size on consumer decisions. Building on previous studies, this research examines two side effects of tyranny of choice in the marketplace: high assortment entropy and high density of attribute values. We analyze two supermarkets—one offering small, the other large assortments—to examine how size, entropy, and density relate in the marketplace. We find that larger supermarket assortments come with higher density and higher entropy. Simulations of various choice strategies in these marketplace assortments reveal that making selections from large high-density and high-entropy assortments is time consuming, and better choice quality is not a forgone conclusion, even for customers with ambitious aspirations.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1002/(IS...
Additional Information: © 2009 Wiley Periodicals, Inc.
Library of Congress subject classification: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Sets: Departments > Management
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 18 Feb 2011 15:09
URL: http://eprints.lse.ac.uk/32731/

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