Information search process model based on costs and benefits: a behavioural economics perspective

Abstract

PurposeThis study constructed an information search process model based on costs and benefits to reflect different information search processes under different decisions from a behavioural economics perspective.Design/methodology/approachThis study used a deductive approach to conceptualise the costs, benefits, and uncertainties of the information search process. Subsequently, we constructed an information search process model based on the costs and benefits using graphical reasoning, loss aversion theory, bounded rationality theory, the satisficing theory of behavioural economics, and the uncertainty changes of information search process.FindingsThe model revealed four types of user behaviours in the information search process: (1) avoiding search at the initiation of the search process; (2) exiting in the middle of a search; (3) stopping at the point of satisficing; and (4) continuing the search until experiencing physical discomfort.Originality/valueThe model constructed in this study treats the information search as a process based on costs and benefits with uncertainty. This model integrates information search avoidance and stopping into an information search process model. The model identifies users’ bounded rationality by evaluating ideal and real situations. Moreover, the model explains relative and absolute information overloads and the area beyond the user’s bounded rationality. These findings could help improve users’ information literacy and optimise information systems.