Clarifying the ideal point: Can it reduce regret?

Abstract

Although a considerable number of options increases the likelihood of encountering an ideal choice, it also imposes excessive cognitive load, making it difficult to compare options thoroughly and thereby leading to stronger regret and lower satisfaction. This phenomenon, known as the choice overload effect, disappears when cognitive demands are alleviated, such as by making an ideal point available. However, previous studies have investigated the moderating role of ideal point availability only at the cognitive and behavioral levels, leaving it unclear whether making an ideal point available reduces regret when choosing from too many options. This study investigated whether making an ideal point available could reduce the regret experienced when selecting from many options in a chocolate selection task. An online experiment employing a hypothetical scenario and a laboratory experiment involving chocolate tasting were conducted. Ideal point availability (available vs. unavailable) and the number of chocolates presented were manipulated (4 vs. 16 options). The results indicated that under the 16-option condition, participants experienced less regret when the ideal point was available than when it was not. In the laboratory experiment, regret was lower when the choice set was small and the ideal point was available. These findings suggest that making the ideal point available may enable choices that minimize regret.