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Choice Environment (choice + environment)
Selected AbstractsObesity as Market Failure: Could a ,Deliberative Economy' Overcome the Problems of Paternalism?KYKLOS INTERNATIONAL REVIEW OF SOCIAL SCIENCES, Issue 2 2009Paul Anand SUMMARY The paper argues that the problem of obesity can usefully be seen as illustrating a new kind of market failure. At the heart of such failures is the emergence of a sub-optimal choice environment which, though derived from a large number of small individual optimising decisions, is not the choice environment that people would choose if they were able to choose the environment itself. This idea is claimed to be consistent with modern economic theories of freedom of choice and applicable particularly to choice environments that emerge in highly competitive market situations. The retail supply of food and consumer credit is discussed by way of example. Concluding, the paper develops the concept of a ,deliberative economy' as an alternative to liberal paternalism and explores conditions under which such an approach to social choice might deliver desirable outcomes. [source] The effect of choice complexity on perception of time spent choosing: When choice takes longer but feels shorterPSYCHOLOGY & MARKETING, Issue 3 2009Barbara Fasolo Two studies examine the effect of the complexity of the choice environment on the perceived duration of the time spent choosing. The experiments demonstrate that the estimation of the time spent making a decision is affected by the number of options available in the choice set. In Experiment 1, participants having to choose 1 of 24 mobile phones tended to underestimate the time spent whereas participants confronted with the choice of 6 mobile phones tended to overestimate the actual time spent. Experiment 2 corroborates this finding, in the presence of varying degrees of attribute correlation. We conclude with theoretical and practical implications for marketers. © 2009 Wiley Periodicals, Inc. [source] Obesity as Market Failure: Could a ,Deliberative Economy' Overcome the Problems of Paternalism?KYKLOS INTERNATIONAL REVIEW OF SOCIAL SCIENCES, Issue 2 2009Paul Anand SUMMARY The paper argues that the problem of obesity can usefully be seen as illustrating a new kind of market failure. At the heart of such failures is the emergence of a sub-optimal choice environment which, though derived from a large number of small individual optimising decisions, is not the choice environment that people would choose if they were able to choose the environment itself. This idea is claimed to be consistent with modern economic theories of freedom of choice and applicable particularly to choice environments that emerge in highly competitive market situations. The retail supply of food and consumer credit is discussed by way of example. Concluding, the paper develops the concept of a ,deliberative economy' as an alternative to liberal paternalism and explores conditions under which such an approach to social choice might deliver desirable outcomes. [source] | ||||||||||