Satisfaction in Choice as a Function of the Number of Alternatives: When “Goods Satiate” but “Bads Escalate”

People often prefer to choose from small as opposed to large sets of alternatives. We propose that satisfaction from choice is an inverted U-shaped function of the number of alternatives. This proposition is derived theoretically by considering the benefits and costs of different numbers of alternatives and is supported by three experimental studies. Because, in large sets, the perceptual costs of processing alternatives varying in shape are greater than for alternatives varying in color, we also predict and demonstrate greater satisfaction from choosing from the latter. We further show that the “satisfaction function” is affected by gender and cultural background.