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are designed to mimic the selection of health insurance, prescription drug, or retirement savings plans. In our experiment … subjects. Second, heuristics differ by age with older subjects relying more on suboptimal decision rules. In a heuristics … validation experiment, older subjects make worse decisions than younger subjects …
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Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A...
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Previous studies have demonstrated that a multitude of options can lead to choice overload, reducing decision quality. Through controlled experiments, we examine sequential choice architectures that enable the choice set to remain large while potentially reducing the effect of choice overload. A...
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