May 22, 2023
In this episode, we explore how time pressure and regret can influence our search behavior as customers in the world of online shopping. Our guest, Timm Opitz, sheds light on his research paper titled "Time Pressure and Regret in Sequential Search", which investigates the impact of urgency and regret on optimal search behavior by conducting experiments in a controlled environment. He also shares some strategies we can use to overcome the influence of urgency and regret in our shopping behaviour.
Timm Opitz is economist currently pursuing his PhD at the Max-Planck-Institute for Innovation and Competition in Munich, Germany, where he is part of the Innovation and Entrepreneurship Research group. As such, his research interests are Entrepreneurship, Behavioral Market Design and Developmental Psychology.
You can find his paper on "Time Pressure and Regret in Sequential Search" here.