Reutskaja, Elena; Nagel, R.; Camerer, C.F.; Rangel, A.
Consumers are faced with a bewildering array of options in a supermarket. Sellers, meanwhile, spend billions of dollars trying to influence in-store choice. Knowledge of the algorithm that consumers use to make their fast choices is essential to being able to predict the qualitative and quantitative effects of such practices. A new study uses eye-tracking techniques to model consumer behavior when confronted with a range of choices.
Boyce, T.; Dixon, A.; Fasolo Menschen, Barbara; Reutskaja, Elena
Where information is concerned, more is not always better, says a report published by IESE, in partnership with the King’s Fund and London School of Economics. In the case of choosing a hospital, simply having all the information available is no guarantee that patients will make an informed decision. Published information needs to be salient, easy to understand and clearly presented. Information providers, take note.
Reutskaja, Elena; Hogarth, Robin
The Baskin-Robbins ice cream chain boasts “31 flavors.” As wonderful as that sounds, choosing two scoops means rejecting 29 other equally delectable flavors. In the end, people could walk away less satisfied than if there had been fewer options. And it’s not just ice cream; as this paper explains, excessive choice, whether of pension schemes or mobile phone plans, can sometimes be a bad thing.
Nueno Iniesta, José Luis; Reutskaja, Elena
When is a building more than a building? And what effect can a spectacular architectural creation have on the economy of its urban home? Emblematic buildings can bring economic, socio-cultural, environmental, touristic and commercial impact to a city or region, and define a city itself. These buildings and their impact warrant a closer look.