Final answer:
Buyer’s remorse commonly occurs due to the availability of imperfect or unclear information leading to misaligned expectations about satisfaction. Post-decision dissonance, where buyers doubt their choices, also contributes to buyer’s remorse. The discrepancy in price expectations due to imperfect information can hinder the agreement between buyer and seller.
Step-by-step explanation:
The most common cause of buyer’s remorse is often attributed to the presence of imperfect or unclear information. When the information at the disposal of the buyer or seller is inadequate, it can lead to misaligned expectations about the satisfaction that the product or service will provide. This discrepancy can result in the buyer regretting the purchase after they realize that the actual value or utility of the product or service does not match their initial expectations.
Furthermore, post-decision dissonance can contribute to buyer’s remorse. This psychological phenomenon occurs after making an important decision, where buyers start to question if they made the right choice, especially in scenarios where the stakes are high or the decision is irreversible. Resolving this dissonance often involves rationalizing the decision or modifying one's beliefs to become more consistent with the choice that was made.
Finally, when it comes to agreeing on a price between a buyer and seller amidst imperfect information, the difficulty arises because both parties may have different perceptions of value and risk associated with the transaction. This can lead to a discrepancy in price expectations, hindering the agreement process.