OTHER EXPLANATIONS OF THE JAM EXPERIMENT. The comments on the Marginal Revolution post that I linked to yesterday offer several alternative explanations for the jam experiment. The first comment suggests that in recent years people may have become more comfortable with an abundance of choices (think of choices on the internet). The second points out that offering only a few kinds of jam may suggest that the jams are “artisanal.” Another points out that if people have only a limited amount of time—are in a hurry—they won’t want to consider a variety of choices. For many products, having a single criterion is a convenience—which may be an independent reason why having the lowest price is appealing to a customer (it makes the decision easier). One commenter says that his father had difficulty with the multiple choices at fast food restaurants. I was reminded of my post about the lady in Hong Kong who discussed with the server at lenght most of the items on the McDonald’s menu at before making her choice.

This entry was posted in Economics. Bookmark the permalink.

Leave a Reply

Your email address will not be published.