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CogSci 2024

July 25, 2024

Rotterdam, Netherlands

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This paper explores decision-making with multiple signals in applied contexts, focusing on online shopping with consumer feedback. The richness of crowdsourced information and the growth of e-commerce highlight the importance of understanding how different consumer feedback signals are weighted across product types. Participants allocated 100 points among eight common consumer feedback signals for products differing in emotional, commitment, and monetary values. A pilot study confirmed the product choice validity, assessing a separate group of participants’ inclination to purchase target products for emotional needs and long-term use. Results reveal an increased reliance on crowdsourced information weight heightened decision stakes. While the overall signal importance ranking remains consistent across products, negative information gains significance, and average ratings diminish in importance for high-stakes decisions. The findings carry theoretical and practical implications, shedding light on the nuanced decision dynamics in applied contexts

Authors:

Jingqi Yu: University of Toronto

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