Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework

H. Zhu, Carol Ou, R.M. Davison, P.A. Pavlou, H.W. Liu

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Abstract

With the increasing prosperity of online marketplaces, millions of items are available on a single plat-form. Due to the limited cognitive capacity of human beings, consumers make purchase decisions in a way that balances both effort and accuracy, as contended by the effort-accuracy trade-off (EATO) framework. However, we propose that the rich functionality of online decision support aids (DSAs), namely image-based searching, cross-platform comparison and collocation recommendation, can first simplify consumers’ information processing in terms of problem identification, alternative generation and product evaluation. DSAs can then help consumers achieve a high level of accuracy in the decision elicitation and making process with minimal effort. We refer to this as effort-accuracy co-existence (EACE) that highlights the non-inversed relationship between effort and accuracy as well as the extended cognitive boundary in consumers’ purchase decision making. We plan to validate the conceptual model using experiments with online buyers. The proposed methodology and implications are discussed in this research-in-progress paper.
Original languageEnglish
Title of host publicationProceedings of the 24th European Conference on Information Systems (ECIS 2016)
Subtitle of host publicationInformation Systems as a Global Gateway
Place of PublicationIstanbul
PublisherAssociation for Information Systems
Number of pages12
Publication statusPublished - Sep 2016

Publication series

NameResearch-in-Progress-Papers
Number49

Fingerprint

Decision support
Coexistence
Purchase decision
Product evaluation
Prosperity
Identification problem
Consumer information
Trade-offs
Methodology
Functionality
Experiment
Information processing
Decision making
Conceptual model
Collocation
Buyers

Cite this

Zhu, H., Ou, C., Davison, R. M., Pavlou, P. A., & Liu, H. W. (2016). Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework. In Proceedings of the 24th European Conference on Information Systems (ECIS 2016): Information Systems as a Global Gateway [49] (Research-in-Progress-Papers; No. 49). Istanbul: Association for Information Systems.
Zhu, H. ; Ou, Carol ; Davison, R.M. ; Pavlou, P.A. ; Liu, H.W. / Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework. Proceedings of the 24th European Conference on Information Systems (ECIS 2016): Information Systems as a Global Gateway. Istanbul : Association for Information Systems, 2016. (Research-in-Progress-Papers; 49).
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abstract = "With the increasing prosperity of online marketplaces, millions of items are available on a single plat-form. Due to the limited cognitive capacity of human beings, consumers make purchase decisions in a way that balances both effort and accuracy, as contended by the effort-accuracy trade-off (EATO) framework. However, we propose that the rich functionality of online decision support aids (DSAs), namely image-based searching, cross-platform comparison and collocation recommendation, can first simplify consumers’ information processing in terms of problem identification, alternative generation and product evaluation. DSAs can then help consumers achieve a high level of accuracy in the decision elicitation and making process with minimal effort. We refer to this as effort-accuracy co-existence (EACE) that highlights the non-inversed relationship between effort and accuracy as well as the extended cognitive boundary in consumers’ purchase decision making. We plan to validate the conceptual model using experiments with online buyers. The proposed methodology and implications are discussed in this research-in-progress paper.",
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Zhu, H, Ou, C, Davison, RM, Pavlou, PA & Liu, HW 2016, Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework. in Proceedings of the 24th European Conference on Information Systems (ECIS 2016): Information Systems as a Global Gateway., 49, Research-in-Progress-Papers, no. 49, Association for Information Systems, Istanbul.

Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework. / Zhu, H.; Ou, Carol; Davison, R.M.; Pavlou, P.A.; Liu, H.W.

Proceedings of the 24th European Conference on Information Systems (ECIS 2016): Information Systems as a Global Gateway. Istanbul : Association for Information Systems, 2016. 49 (Research-in-Progress-Papers; No. 49).

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

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AB - With the increasing prosperity of online marketplaces, millions of items are available on a single plat-form. Due to the limited cognitive capacity of human beings, consumers make purchase decisions in a way that balances both effort and accuracy, as contended by the effort-accuracy trade-off (EATO) framework. However, we propose that the rich functionality of online decision support aids (DSAs), namely image-based searching, cross-platform comparison and collocation recommendation, can first simplify consumers’ information processing in terms of problem identification, alternative generation and product evaluation. DSAs can then help consumers achieve a high level of accuracy in the decision elicitation and making process with minimal effort. We refer to this as effort-accuracy co-existence (EACE) that highlights the non-inversed relationship between effort and accuracy as well as the extended cognitive boundary in consumers’ purchase decision making. We plan to validate the conceptual model using experiments with online buyers. The proposed methodology and implications are discussed in this research-in-progress paper.

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Zhu H, Ou C, Davison RM, Pavlou PA, Liu HW. Investigating decision support aids in online marketplaces based on the effort-accuracy co-existence framework. In Proceedings of the 24th European Conference on Information Systems (ECIS 2016): Information Systems as a Global Gateway. Istanbul: Association for Information Systems. 2016. 49. (Research-in-Progress-Papers; 49).