A study demonstrated "choice overload" by comparing sales between two jam sellers. One seller offered only...

A study demonstrated "choice overload" by comparing sales between two jam sellers. One seller offered only three varieties. The other sellers offered these varieties plus a dozen more. The seller with only three varieties sold even more jam than the other. What consequence of rational choice does this experiment violate, which proves that a cognitive bias is influencing choices? Explain in at most two sentences.

Expert Solution

This happen because of paradox of choice. Their are two type of people maximizer he is someone who is driven to make the best possible choice, which may mean they have to evaluate options exhaustively and yet may be less satisfied with their ultimate choice than someone who did less research. The latter one is Satisficers who are content to choose options that adequately meet their requirements they don’t waste time overthinking their options or regretting choices that have already been made.

Rahul Sunny answered 1 year ago

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