Effect on the likelihood of choice option selection from a decision heuristic driven by a large number of decision options.
Source: Behavioral Science Lab, 2017
Also referred to as ‘overchoice’, the phenomenon of choice overload occurs as a result of too many choices being available to consumers. Overchoice has been associated with unhappiness (Schwartz, 2004), decision fatigue, going with the default option, as well as choice deferral—avoiding making a decision altogether, such as not buying a product (Iyengar & Lepper, 2000). Many different factors may contribute to perceived choice overload, including the number of options and attributes, time constraints, decision accountability, alignability and complementarity of options, consumers’ preference uncertainty, among other factors (Chernev et al., 2015).
Source: Behavioral Economics