To properly consider the opportunity costs of a purchase, consumers must actively generate the alternatives that it would displace. The current research suggests that consumers often fail to do so. Even under conditions promoting cognitive effort, various cues to consider opportunity costs...

Consumers prefer larger assortments, despite the negative consequences associated with choosing from these sets. This article examines the role of psychological distance (temporal and geographical) in consumers’ assortment size decisions and rectifies contradicting hypotheses produced by...