Please provide examples of your own purchasing behavior. Detail the phenomenons that can explain your behavior.

1. Availability bias
2. Endowment effect
3. Decoy effect
4. Gravitational Pull of free
5. Social norm

Format and example to be followed : ( The below writing is only an example to be followed for the question above )

Examples of such behavior 1. When I must do shopping most of the time, I will go on a website such as Amazon and look for a product among the choices I'm usually seeing on the first page, so I'm not putting too much effort into it. I will most likely choose one quickly sometimes by just looking at some recommendations with the thinking that if most people are happy with it, I should be happy as well. As a badminton lover, my last purchase of a badminton racket is a good example of my thought process: I know what kind of badminton racket I need to be satisfied a one around a weight of 84-85g with a badminton string tension around 26 lbs (pounds). When I went to the website to find one, I spend less than 5 min to find one with those characteristics that I temporary chose with the objective to come back a bit later and do the payment. However when I came back my choice didn't got save so I quickly went back to the menu of rackets I saw the one that I previously chose but end up with another one that was not even better but just had the same minimum requirement I wanted. If it is the first time that I have to buy a product with no previous experience linked to it I usually process as follow: Few months after arriving in Japan I wanted to buy some earphones mainly to do sport but also because I really like to go out with music such as when I do groceries. I went on Amazon with the idea that I wanted an average product just to enjoy music with a decent batterie life and a price around 8000 JPY maximum, when I saw the different products I was quite surprise that many products were less expensive than I thought, with people saying on feedbacks that I was great to run with them and that the batterie life was great overall. I chose one with a funny brand name and proceed to buy it right away. 2. 3. If we go back to my purchasing behavior online, recently I had to buy a new pillow for my bed because the other one was a bit too small, so I went on Amazon again to see the different kind of pillow that there is, I found myself surrounded by so many options that seems totally fine for what I wanted, I then proceed to chose one kind of randomly out of the different options because I thought that most of the products that were available met the minimum requirement I had for a pillow anyway. When I say kind of randomly it is because I do not even remember what made me chose this pillow at the time. However, I did not make the purchase right away and came back later. When I was about to buy it I saw in a smaller section another one that I didn't chose in the bigger menu and my original choice next to it, I change for that new one that I already saw but did not chose in the bigger menu but I don't know what exactly made me change for it could be a funny picture on the product, the color or the brand name or just the fact that this pillow seems better than the two others choice next to it. (explanation on why this specific behavior that may violate contraction in my opinion bellow) III - Explanation of how it violates preference maximization hypothesis As we have seen in the definition on the first part of this paper (I), the model is based on the assumptions that Maximizer are choosing the best possible alternative which is not the case for me especially regarding everyday product. When a Maximizer will try to find the best choice regarding its utility ranking I am much more focus on a minimum level of expectation and when I find a product that I value as at least as good as my expectation I usually go for it which is not what the canonical model is expecting from me as a rational consumer. In addition to that we could take the example of the contraction effect that fit with the canonical model in which if a consumer chose a product in bigger menu, he should make the same choice in a smaller menu: in my case I won't usually even look at the bigger menu itself because there is too many things that are similar to what I need but I could spend a bit more time in a smaller one, because I see that I won't lose too much time on it, also my choice could totally change from the bigger menu to the smaller one if there is more than one item that meets the minimum expectation that I have for this product, it seems then that my thought process violate the Chernoff's axiom of choice consistency and thus the canonical model. Going back at my behavior when I bought the pillow, if I look at the definition of the contraction effect : If you choose some item from a menu and this item remains available in a restricted menu then you also choose it from the restricted menu. My approach in thinking that my behavior doesn't necessary respect the contraction consistency is the following : In a case in which there is many products that fulfill my requirement threshold, I may chose one product kind of randomly among the other because I think that it should be as good as another one, if then I have the same kind of product available in a smaller menu I could chose the same one but I could also totally change to another one that also meet the basic requirement just because at the moment I am making my choice my mind could be impacted by some tiny details that make my chose another one. I have seen myself in the past chose different kind of alternatives when I had to do the choice again or with smaller alternatives but with my original choice available just because my first choice originally was based on really weak aspects that doesn't really matters if I have to done it again. Maybe the reason behind what I feel is a violation of the contraction effect is that my state of mind is changing other the time and this impact a lot my purchasing behavior because the intrinsic characteristics of the products are not something I am focusing on if they already satisfy my minimum expectations. IV - Conditions or circumstances under which the behavior is likely to occur 1. When? Usually this happened when this is the first time I have to buy a type of product, because once I have something that I am happy with (a reference) I'm not looking to change and I will most likely buy the same product for a long time without even comparing the other possibilities. (For instance, I change to another badminton racket when the previous one is not produced anymore by the brand). However, when I do not have any previous experience regarding a product, I will proceed to find the one that is good enough to match my need for what I expect of this product. You could say that my first choice is quite important because I could stick to it for many years and this is the case for McDonalds for instance I have been a lot to McDonalds since I'm a teenager but I have always taken the same menu : McChicken sandwich - Fries - Coca-Cola, just because I'm happy with this choice I don't even consider all the other options. 2. Where? I would say that I have the same behavior online and offline on supermarket because my approach of being easily satisfied usually fit with all type of purchasing behavior that I have. V- The underlying decision-making procedure that leads to this behavior This happened because contrary to the Maximizer consumer I am not looking for the best choice possible among all the possible items but usually to the one that is good enough to fulfill my need at a given time. This difference have many consequences on my behavior and usually the more items there is, the least likely I am to look at them all and I usually chose a random one, or I help myself a bit with recommendations when I can . I used to think differently when the range of choices was shorter, but since I'm buying a lot on Internet I learnt to save energy by only looking for what may be enough to satisfy my needs instead of looking for the "best" one, firstly because finding all the information about the different product is too much effort and so many products are still fine with the purpose I have for them and secondly because when I was not happy with something I spend so much time choosing I felt really frustrated much more that if I lower my expectations and just chose something with a specific purpose and as long as the purpose is fulfill I'm satisfied. VI - General advices for marketing managers Avoid many different options for relatively simple product because I will not even consider most of them if I have the feeling that they all satisfy the basic purpose I am expecting I will most likely chose a random one / cheaper one. Find a way to make me buy your product when this is the first time that I encounter it, because if I am happy with it there is a huge provability that I will stick to it for a long time. Emphasize the fact that your product is perfect for what we could expect of it without useless features that are just made to be different from one another. There is so many products I do not even consider when I have the feeling, they are overtrying to sell it. VII- General advices for people like me It is sometimes worth it to upper up the expectation because in some case the competition is so huge that you could have a product that is better than you expected and so even if you thought that this product just had a specific purpose, in fact it could be much more useful than you expected when the quality is a bit better. This highlight the idea that you should also consider what a product could do & not only what you want it to do only. You should be aware that what is good enough for us could not be good enough for someone else and so when you are sharing decisions making process with someone else you should be aware of that to avoid conflicts.