Whether we're buying a pair of jeans, selecting a long-distance carrier, choosing a doctor, or setting up a 401(k), everyday decisions -- from the mundane to the profound challenges of balancing career, family, and individual needs -- have become increasingly complex due to the overwhelming abundance of choice with which we are presented. We assume that more choice means better options and greater satisfaction. But beware of choice overload: it can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In The Paradox of Choice, Barry Schwartz explains why too much of a good thing has proven detrimental to our psychological and emotional well-being. Synthesizing current research in the social sciences, he makes the counterintuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. In accessible, engaging, and anecdotal prose, he offers practical steps for how to limit choices to a manageable number, have the discipline to focus on the important ones and ignore the rest, and, ultimately, derive greater satisfaction from the choices you do make.This P.S. edition features an extra 16 pages of insights into the book, including author interviews, recommended reading, and more. ...Continua
Prospect theory explains our loss aversion. Also bear in mind the cumulative burden of opportunity cost reduces satisfaction. Example: shoppers who saw larger display are less likely to buy. Somehow we could be more satisfied with less regret, seek for "good enough", show our gratitude and make ing non-reversible decision.
Although I have read similar findings in other books, it is a nice read and I learn something new....Continua
Now I know why trying to consider 'all options' will drive you to insanity.
One idea, which is quite good, last too long without really giving any twist to it
What to do about choice?
Prioritize, prioritize, prioritize! Ask what is truly important to you and your life.
1. Choose when to choose
2. Be a chooser, not a picker
3. Satisfice more and maximize less
4. Think about the opportunity costs of opportunity costs
- don’t be tempted by “new and improved”
5. Make your decisions non-reversible
6. Practice an “attitude of gratitude”
7. Regret less
- reduce the number of options we consider before making a decision
8. Anticipate adaptation
9. Control expectations
10. Curtail social comparisons
11. Learn to love constraints