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IntroductionThe conceptualization and measurement of the maximiz- ing construct has received considerable attention in the last ten years (Schwartz et al., 2002; Nenkov et al., 2008; Diab, et al., 2008; Lai, 2010; Rim, et al., 2011). Tra- ditional economic models of choice theorized that indi- viduals pursue a maximization goal in decision-making contexts. However, in an evaluation of the existing data and economic models Simon (1956) stated, “Evi- dently, organisms adapt well enough to ‘satisfice’; they do not, in general, ‘optimize’.” Building on this re- search, Schwartz et al. attempted to define the psycho- logical effects of maximizing for those who pursue max- imizing goals. Specifically, they theorized that in envi- ronments with a lot of choice, individuals with a maxi- mizing goal would likely be unhappy and regret their de- cisions. Schwartz et al. developed a 13-item measure of maximization (Maximization Scale; MS) and found that scores from the MS correlated positively with depression, perfectionism, and regret and correlated negatively with happiness, life satisfaction, optimism, and self-esteem.Since the development of this scale, there has been considerable debate about the validity of the measure
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