The paradox of choice


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The paradox of choice

  1. 1. The Paradox of ChoiceWhy more is less<br />By Barry Schwartz<br />
  2. 2. Content<br />2<br />Choice and freedom<br />Ignoring the options<br />Making good decisions<br />Why we suffer<br />What can we do<br />
  3. 3. Isn’t choice a good thing?<br />
  4. 4. Content<br />4<br />Choice and freedom<br />Ignoring the options<br />Making good decisions<br />Why we suffer<br />What can we do<br />
  5. 5. There’s a fundamental difference between choice and freedom<br />5<br />CHOICE<br />FREEDOM<br />= essential autonomy, which is fundamental to well-being<br />! The fact that some choice is good does not necessarily mean that more choice is <br />better<br />= essential to self-respect, public participation, mobility and nourishment<br />! Not all choice enhances freedom: it may impair freedom by taking time & energy <br />
  6. 6. Why people can’t ignore many or some of the options<br />6<br />It’s in our faces every day<br />Standard of comparison<br />Tyranny of small decisions<br />An industry of marketers & advertisers makes products difficult or impossible to ignore<br />We have a tendency to look around at what others are doing and use them as a standard of comparison<br />It always seems easy to add just one more item to the array that is already being considered<br />
  7. 7. Content<br />7<br />Choice and freedom<br />Ignoring the options<br />Making good decisions<br />Why we suffer<br />What can we do<br />
  8. 8. Making good decisions<br />8<br />Figure out your goals<br />Evaluate the importance of each goal<br />Array the options<br />Evaluate how likely each of the options is to meet your goals<br />Pick the winning option<br />Later use the winning consequence of your choice to modify your goals, the importance you assign them & the way you evaluate future posibilities<br />
  9. 9. Why don’t we always take good decisions?<br />9<br />Maximizers<br />Satisficers<br />= if you seek & accept only the best<br /><ul><li> Get less satisfaction out the choices they make</li></ul>= to settle for something that is good enough & not worry about the possibility that there might be something better<br /><ul><li>Take much more time & effort in decision making
  10. 10. Are less happy, less optimistic & more depressed
  11. 11. More susceptible to all forms of regret (“buyers remorse”)</li></ul>People can be a maximizer or a satisficer depending on the specific situation<br />
  12. 12. Content<br />10<br />Choice and freedom<br />Ignoring the options<br />Making good decisions<br />Why we suffer<br />What can we do<br />
  13. 13. Why we suffer<br />11<br />Choice & <br />happiness<br />Missed <br />opportunities<br />The problem <br />of regret<br />The problem <br />of adaption<br />
  14. 14. Why we sufferChoice & happiness<br />12<br />Instrumental<br />It enables people to get what they want<br />Expressive<br />It enables people to say who they are<br />Psychological<br />It enables people to actively and effectively engage in the world<br />Benefits of choice<br />BUT<br />Too many choices<br />=<br /> unhappy<br />
  15. 15. Why we sufferMissed opportunities<br />13<br />How can it be so hard to choose?<br />Distinguishing between good and bad is far simpler matter than distinguishing better from best<br />
  16. 16. Why we sufferThe problem of adaption<br /> Perceptual adaption<br />Decreased responsiveness to sights, sounds, odors and the like as people continue to experience them<br />Hedonic adaption<br />Adaption to pleasure<br /> Novelty can change someone’s hedonic standards so that what was once good enough, or even better than that, no longer is<br />14<br />Simply by being aware of the process of adaption, we can anticipate its effects and therefore be less disappointed when it comes<br />
  17. 17. Why we sufferThe problem of regret<br />15<br />The moment of regret<br />Post-decision regret<br />Anticipated regret<br />Other forms of regret:<br /><ul><li>Omission bias (we regret actions that don’t turn out well more than failures to take actions that would have turned out well)
  18. 18. Near misses
  19. 19. Responsibility for results</li></ul>The prospect of regret is not only an important consequence of many decisions, but the prospect of regret is an important cause of many decisions<br />
  20. 20. Content<br />16<br />Choice and freedom<br />Ignoring the options<br />Making good decisions<br />Why we suffer<br />What can we do<br />
  21. 21. What can we do about it?<br />17<br />Choose when to choose<br />Be a chooser, not a picker<br />Satisfy more and maximize less<br />Think about the opportunity costs of opportunity costs<br />Make your decisions nonreversable<br />Practice an attitude of gratitude<br />Regret less<br />Anticipate adaption<br />Control expectations<br />Curtail social comparison<br />Learn to love constraints<br />
  22. 22. 18<br />An interesting book to read, makes you reflect on choices you have to take in your life<br />3reasons to read this book<br />Gaps in this book<br />It shows us how and why we make choices and what we do wrong<br />It gives you a clear understanding about how confused we sometimes get by making choices and how we suffer by doing so<br />It provides tips how we can get less confused whilst making choice and make choice in our lives easier<br /><ul><li>Hands-on practical tips you can immediately use in your professional as well as personal life
  23. 23. More examples on how other people used the book which can inspire you to easy your life</li>