Search costs and adaptive consumers: short time delays do not affect choice quality

Author(s)
Axel Sonntag
Abstract

Using online price comparison and shopping platforms makes experiencing slow connections, lags and waiting times for information an unfortunate reality. However, little attention has been paid to analyzing the effects of such delayed display of information on product choice behavior. This article explores the effect of time delays in a multi-attribute choice laboratory experiment by not providing information immediately when requested but after short time delays. Increasing these waiting times reduced the amount of information looked-up but did not affect choice quality. Higher time delays made decision-makers use more deliberate search processes, whereas low time delays induced inefficient over-searching.

Organisation(s)
Department of Economics
Journal
Journal of Economic Behavior & Organization
Volume
113
Pages
64-79
No. of pages
16
ISSN
0167-2681
Publication date
05-2015
Peer reviewed
Yes
Austrian Fields of Science 2012
Behavioural economics
Keywords
Portal url
https://ucris.univie.ac.at/portal/en/publications/search-costs-and-adaptive-consumers-short-time-delays-do-not-affect-choice-quality(54247c18-7ff0-4e22-8c05-317eb22424f9).html