How are Purchasing Decisions Impacted by the Compromise Effect?
The compromise effect can be observed in the consumer’s tendency to avoid extreme ends of the available range when making purchasing decisions. In this video, MARKO SARSTEDT investigates the origins of the compromise effect. Describing an experiment that interrogates the effects of a lowering of cognitive capability on purchasing decisions, Sarstedt argues that rather than involving fast or intuitive decision making, the compromise effect is grounded in deliberate and demanding thought processes. The research provides a platform for further work examining the links between other effects (e.g. the attraction effect, the phantom decoy effect) and cognitive depletion.
DOI:
https://doi.org/10.21036/LTPUB10639Researcher
Marko Sarstedt is Chaired Professor of Marketing at Ludwig-Maximilians-University München and won the 2018 Research Award. He is also an Adjunct Professor at Babeș-Bolyai University, Cluj. Sarstedt has previously worked at the University of Newcastle (Australia) and Ludwig Maximilian University of Munich. His research focuses on consumer behavior and on the improvement of marketing decision making. The winner of five Emerald Citations of Excellence and two AMS William R. Darden awards, in 2020, Sarstedt was judged the second most influential business researcher in Germany, Austria and Switzerland (F.A.Z.-Ökonomenranking).
Ludwig Maximilian University Munich (Ludwig-Maximilians-Universität München)
"LMU Munich is one of the leading universities in Europe. Carrying on a tradition that goes back over 500 years, LMU offers challenging study programs and provides an ideal environment for top-level research. "Introducing LMU" gives an insight into learning and teaching as well as research and life at LMU." ( Source )
Original Publication
The Influence of Serotonin Deficiency on Choice Deferral and the Compromise Effect
Marcel Lichters
,Claudia Brunnlieb
,Gideon Nave
,Marko Sarstedt
,Bodo Vogt
Published in 2015