The Paradox of Choice: Why More Is Less
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Read between July 16 - September 30, 2023
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A large array of options may discourage consumers because it forces an increase in the effort that goes into making a decision. So consumers decide not to decide, and don’t buy the product. Or if they do, the effort that the decision requires detracts from the enjoyment derived from the results. Also, a large array of options may diminish the attractiveness of what people actually choose, the reason being that thinking about the attractions of some of the unchosen options detracts from the pleasure derived from the chosen one.
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Nobel Prize–winning psychologist Daniel Kahneman and his colleagues have shown that what we remember about the pleasurable quality of our past experiences is almost entirely determined by two things: how the experiences felt when they were at their peak (best or worst), and how they felt when they ended.
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Thus the growth of options and opportunities for choice has three, related, unfortunate effects.   It means that decisions require more effort. It makes mistakes more likely. It makes the psychological consequences of mistakes more severe.   Finally, the very wealth of options before us may turn us from choosers into pickers. A chooser is someone who thinks actively about the possibilities before making a decision. A chooser reflects on what’s important to him or her in life, what’s important about this particular decision, and what the short-and long-range consequences of the decision may be. ...more
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The alternative to maximizing is to be a satisficer. To satisfice is to settle for something that is good enough and not worry about the possibility that there might be something better. A satisficer has criteria and standards. She searches until she finds an item that meets those standards, and at that point, she stops.
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Recall that satisficers are looking for something that’s “good enough,” not something that’s best. “Good enough” can survive thinking about opportunity costs. In addition, the “good enough” standard likely will entail much less searching and inspection of alternatives than the maximizer’s “best” standard. With fewer alternatives under consideration, there will be fewer opportunity costs to be subtracted. Finally, a satisficer is not likely to be thinking about the hypothetical perfect world, in which options exist that contain all the things they value and trade-offs are unnecessary.
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In the short run, we regret a bad educational choice, whereas in the long run, we regret a missed educational opportunity. In the short run, we regret a broken romance, whereas in the long run, we regret a missed romantic opportunity. So it seems that we don’t close the psychological door on the decisions we’ve made, and as time passes, what we’ve failed to do looms larger and larger.
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Because of adaptation, enthusiasm about positive experiences doesn’t sustain itself. And what’s worse, people seem generally unable to anticipate that this process of adaptation will take place. The waning of pleasure or enjoyment over time always seems to come as an unpleasant surprise.
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Happy people have the ability to distract themselves and move on, whereas unhappy people get stuck ruminating and make themselves more and more miserable.
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I THINK INCREASES IN EXPERIENCED CONTROL OVER THE YEARS have been accompanied, stride for stride, by increases in expectations about control. The more we are allowed to be the masters of our fates, the more we expect ourselves to be. We should be able to find education that is stimulating and useful, work that is exciting, socially valuable, and remunerative, spouses who are sexually, emotionally, and intellectually stimulating and also loyal and comforting. Our children are supposed to be beautiful, smart, affectionate, obedient, and independent. And everything we buy is supposed to be the ...more
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To manage the problem of excessive choice, we must decide which choices in our lives really matter and focus our time and energy there, letting many other opportunities pass us by. But by restricting our options, we will be able to choose less and feel better.
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The trick is to learn to embrace and appreciate satisficing, to cultivate it in more and more aspects of life, rather than merely being resigned to it. Becoming a conscious, intentional satisficer makes comparison with how other people are doing less important. It makes regret less likely. In the complex, choice-saturated world we live in, it makes peace of mind possible.
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We can vastly improve our subjective experience by consciously striving to be grateful more often for what is good about a choice or an experience, and to be disappointed less by what is bad about it. The research literature suggests that gratitude does not come naturally to most of us most of the time. Usually, thinking about possible alternatives is triggered by dissatisfaction with what was chosen. When life is not too good, we think a lot about how it could be better. When life is going well, we tend not to think much about how it could be worse. But with practice, we can learn to reflect ...more