Maximizers Abandon More Before Decisions, Regret More After Decisions, and Re-Maximize More for Second-Time Decisions: Real-World Analysis of Online Consumer Behaviors

Maximizers, as opposed to satisficers, are defined as decision-makers who consider many alternatives to make the best choice. We adopted records in Taobao (the largest e-commerce platform in China) in 2022 to quantify individual maximization strategy inclination (the number of within-subcategory items that a consumer account considers prior to a first-time purchase). Using this index, we examined whether real-world behaviors in Taobao could be explained by three aspects of theories suggested by previous studies on maximizers, namely, pre-purchase decision paralysis, post-purchase regret (maximization paradox), and the Sisyphus effect. The results revealed that maximizers (vs. non-maximizers) are more likely to end decision-making processes with abandonment, rely on their evaluations instead of those of others, ruminate alternatives even after decisions, retract decisions, and express dissatisfaction about decisions. When evaluating options for the second time, maximizers even construct a larger candidate option set. Most between-person effects remained significant after controlling within-person variations.