There is more choice in the world than ever before, and the modern explosion of choice can have both positive and negative consequences for consumers (e.g., Reference Broniarczyk and GriffinBroniarczyk & Griffin, 2014 Reference Chernev, Böckenholt and GoodmanChernev, Böckenholt, & Goodman, 2015 Reference Iyengar and LepperIyengar & Lepper, 2000 Schwartz, 2000, 2004, 2010). We discuss the implications of our review and model for research on maximization, highlighting what we see as pressing unanswered questions and important directions for future investigations. Our model posits that maximization is best understood as the pursuit of the maximization goal of choosing the best option through the maximization strategy of alternative search other constructs such as decision difficulty and regret are best considered outcomes or causes - rather than components - of maximization.
Next, we propose a two-component model of maximization, outlining our view of how maximization should be conceptualized and measured. We then review the literature on the measurement of maximization, attempting to identify the similarities and differences among the 11 published measures of maximization. We begin by briefly summarizing the understanding of maximizers that has emerged through research using Schwartz et al.’s MS. We seek to clarify the confusing literature on the measurement of maximization to help make sense of the existing findings and to facilitate future research. Recently, however, several researchers have criticized the MS, and almost a dozen new measures of maximization have now been published, resulting in a befuddling and contradictory literature. They developed the Maximization Scale (MS) to measure individual differences in maximization, and a substantial amount of research has now examined maximization using the MS, painting a picture of maximizers that is generally negative. (2002) proposed that when making choices, some individuals - maximizers - search extensively through many alternatives with the goal of making the best choice, whereas others - satisficers - search only until they identify an option that meets their standards, which they then choose. Building on Herbert Simon’s critique of rational choice theory, Schwartz et al.
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