More Variety or More Quantity? Children's Economic Decisions About Resource Value

Abstract

ABSTRACT Previous research has found that children typically prefer items from assortments of large rather than small varieties. Scarce items with fewer similar items are more desired than abundant items, although the reverse pattern can also be seen in certain situations. However, little research has examined these two factors simultaneously. Designed to fill this gap, the current study examined how variety and quantity impacted economic decisions of resource value among children and adults. In Experiment 1, 129 participants were asked to choose between two assortments (i.e., stores) to buy one item; two assortments had different varieties of merchandise with different quantities per variety. Results showed a consistent preference for high over low variety and high over low quantity. The effect of variety is stronger than quantity, the latter of which, however, could attenuate the effect of the former. Overall, children and adults performed similarly except when variety was held constant. In Experiment 2, 128 participants were asked to buy two items from one of the two assortments. Results from Experiment 1 were largely replicated in Experiment 2. Our results demonstrated the important interplay between variety and quantity on resource value and choice selection for children and adults. Implications were also discussed.

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