Maximizers
Abstract
In decision making situations, maximizers are known to prefer choosing between larger sets of product options compared to satisficers. However, even with more options, maximizers often make worse decisions. This counterintuitive phenomenon is known by researchers as the “Maximization Paradox.” This article explores how and when maximizers show more status quo bias. Additionally, I find that maximizers and satisficers respond to upward and downward counterfactual thinking different and maximizers are more likely to use processing fluency as evaluative information compared to satisficers.