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Interactive Consumer Decision Aids

  • Kyle B. Murray
  • Gerald Häubl
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 121)

Too Much Choice for Consumers?

Today’s consumers are faced with a vast and unprecedented breadth and depth of product alternatives: a Wal-Mart Supercenter stocks over 100,000 items (Yoffie 2005), Home Depot more than 50,000 (Murray and Chandrasekhar 2006), and the typical grocery store more than 30,000 (Schwartz 2005). The advent of online shopping has further increased the choices that are available to consumers; both eBay.com and amazon.com offer literally millions of unique products, from thousands of product categories, for sale through their websites. If deciding among all of these alternatives gives consumers a headache, a trip to the local pharmacy does little to relieve the pain. Even in product categories that one might consider relatively simple and straightforward, such as analgesics, it is common to find in excess of 60 different varieties side-by-side on the shelf (Schwartz 2005). The consumer is asked to select the chemical composition (ibuprofen, acetaminophen,...

Keywords

Augmented Reality Mutual Fund Product Category Preference Information Online Shopping 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Notes

Acknowledgments

The authors gratefully acknowledge the research funding provided by the Social Sciences and Humanities Research Council of Canada. This work was also supported by the F.W.P. Jones Faculty Fellowship held by Kyle B. Murray and the Canada Research Chair in Behavioral Science and the Banister Professorship in Electronic Commerce held by Gerald Häubl.

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Copyright information

© Springer Science+Business Media, LLC 2008

Authors and Affiliations

  1. 1.Western Ontario University’s, Richard Ivey School of BusinessOntario

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