The Paradox of Choice Why More is Less

How The Culture of Abundance

Robs Us of Satisfaction
Barry Schwartz
EXECUTIVE BOOK SUMMAR
Y

Overvi
ew
In his book,
Barry Schwartz
brings forth
the idea that
having too
many choices
can be a bad
thing, and that
the plethora of
options
available to
the average
person from
such items as
the salad
dressings on
the average
supermarket
shelf, to the
stereo systems
we can
purchase at
our local
consumer

electr
onics store, can actually
be detrimental to our
psychological and
emotional well-being in
many circumstances.
Schwartz utilizes current, relevant examples
and research that are
easily relatable and
understandable for the
average man or
woman. He goes on to
fur-ther explain how
and why we choose
and offers practical
sugges-tions to
increase happiness and
to reduce anxiety. He
does not say that
choice is a bad thing; in
fact, as the number of
available choices
increases, the
autonomy, control and
liberation it brings to
people are powerful
and positive. It is when

the
numb
er of
choic
es we
have
grows
furthe
r that
the
negat
ives
escal
ate
until
we
beco
me
overlo
aded.
From
this
point
on,
choic
e no
longe
r
libera

tes, but de-bilitates.

5 Important Lessons
Related to Choice

March 7, 2014

Barry Schwartz,

an American
psycholo-gist, is The
Dorwin Cartwright
Professor of Social
1. Embrace voluntary
constraints on your freedom
Theory and Social
of choice, in-stead of rebelling Action at Swarthagainst them.
more College in
Swarthmore, Pennsyl2. Seek what is good enough vania. He is the
instead of seeking the best.
author of six books
including
3. Lower
your
expectations
The Battle for
about the results of decisions. Human Nature:
Science, Morali-ty
4. You would be better off if the and Modern Life and
decisions you made were The Costs of Living:
nonre-versible.
How Market
Freedom Erodes the
5. Pay less attention to whatBest Things in Life.
others around you are doing.

Inside this issue:

OVERVIEW
PART 1: When
We
Choose
PART 2A: How
We
Choose
PART 2B:
WEALTH
OF OPTIONS
PART 2C:
MAXIMIZERS
PART 3: WHY
WE

SUFFER
PART 4: WHAT
WE
CAN DO
SUMMARY
CRITIQUE

1
2

6&
7
8

The Paradox of Choice Why More is Less

Part 1: When We Choose

THERE IS NO
DENYING THAT
CHOICE

A
m
er
ic
a
ns
h
av
e
m
or
e
av
ail
a
bl
e
o
pt
io
ns
th
a
n
th
ey
h
av
e
ev
er
h
a
d
w
h
e
n
it
co
m
es

to
cons
umer
ism
in all
dime
nsio
ns.
Shop
-ping
for
food
at
your
local
supe
rmar
ket is
a
perfe
ct
exa
mple
of
this.
A
quic
k
glan
ce
up
and
dow
n the
isles,
youl
l notice
such
thing
s as
85

different
brand
s of
crackers,
285
varieti
es of
cookie
s and
95
option
s just
in the
snack
isle
alone!
If a
perso
n
doesn
t

want
to
leave
their
house
to
shop,
this
isnt a
problem as
there
are
catalogues
that
they
can
look
at,
order
their
goods
over
the
phone
or the
interne
t and
they
will be
shippe
d
directl
y to
them.
When
it
comes
time to
choose
course

s to study in
a
college, students
n
encoun-ter the
d
same vastness of
th
available options
e
and are encouraged co
to select classes
ur
that best suit them se
ro
ut
e
of
st
u
d
y
th
at
th
e
y
h
a
IMPROVES THE
QUALITY OF OUR

H
i
s
t
o
r
y
o
f
C
h
o
i
c
e

ve
also
desi
gned
for
the
msel
ves.
Ame
rican
s go
to
shop
-ping
cent
ers
abou
t
once
a
wee
k,
whic

h
happe
ns to
be
more
often
than
they
go to
house
s of
worship.
Ameri
cans
now
have
more
shopp
ing
cente
rs
than

high
school
s. Do
we
have
too
many
choice
s, too
many
decisio
ns,
and
too
little
time
to do
what
is
really
import
ant?

LIVES. IT
ENABLES
US TO

n
e
e
d

CONTROL
OUR
DESTINIES
AND TO
COME
CLOSE TO
GETTING
EXACTLY
WHAT WE
WANT OUT
OF ANY

SITUATION
(P. 3).

f
o
r
o
u
r
s
e
l
v
e
s
a
n
d
f
o
r
o
u
r
f
a
m
i
l
i
e
s
,
u
n
t
i
l
r
e
-

c
e
nt
ly
,
at
th
e
s
a
m
e
g
e
ner
al
st
or
e.
In
th
e
p
a
st
fe
w
d
e
c
a
d
e
s
th
at
lo
n
g
pr
o
c
e
ss
of
si
m
pl

ifyi f
ng o
an r
d a
bu g
ndli
ingn
ec g
on
o b
mi e
c h
off a
eri v
ng i
s o
ha u
s r
be ,
en a
re- s
ve
rsee
d. a
Inc c
re h
asi
nglo
y, f
th u
e s
tre
nd
m
ov
es
ba
ck
to
wa
rd
ti
m
eco
ns
u
mi
ng

is t
for o
ce w
d h
to e
sif t
t h
for ou e
r- r
sel o
ve r
s n
thr o
ou t
gh t
m o
or h
e a
an v
d e
m c
or h
e o
op i
tio c
ns e
in ,
ev w
er e
y w
as o
pe u
ct l
of d
lif
e. o
Of p
co t
ur f
se o
if r
it c
ca h
m o
e i
do c
wne
.

S
c
h
w
a
r
t
z
a
r
g
u
e
s
t
h
a
t
it
i
s
t
h
e
c
u
m
u
l
a
ti
v
e
e
ff
e
c
t
o
f
c
h
o
i
c
e
t
h
a

t
is
c
a
u
si
n
g
o
ur
s
o
ci
et
y
s
u
b
st
a
nt
ia
l
di
str
e
ss
.

Pag
e2

The Paradox of Choice - Why More is Less

Part 2: How We Choose
STEPS FOR GOOD DECISION MAKING
Figure Out Your Goal or Goals
Evaluate the Importance of Each Goal
Array the Options
Evaluate How Likely Each of the options Is To Meet Your Goals
Pick the Winning Option
Use the Consequences of Your Choice to Modify Your Goals,
the Importance You Assign Tem, and the Way You Evaluate Future
Possibilities

Key Terms & Phrases From Part 2

1 ANCHORING: when an initial piece of information is used to make subsequent decisions
(regular vs. sale price)

2 FRAME & ACCOUNT: how our decisions are shaped based on language (5 % fat vs. 95 %
fat free)

3 PROSPECT THEORY: how we go about evaluating options and making decisions

4 LOSS AVERSION: losses have more than twice the psychological impacts of equivalent
gains

5 ENDOWMENT EFFECT: the feeling of ownership you have once youve been given
something

6 LAW OF DIMINISHING MARGINAL UTILITY: As the rich get richer each additional unit of
wealth satisfies them less

Horizontal Axis:

Objective States of Affairs (+ to the right of the

vertical axis) (- to the left
of the vertical axis)
Examples: Gains or losses of money, status on the
job, golf hand-icap, etc

Vertical Axis:
Subjective or Psychological responses to the
changes in states of the affairs
Page 3

The Paradox of Choice - Why More is

Less
Chooser:
Someone
who thinks
actively
about the
possibilities
before making a
decision, reflects on
what
is important to
them in
their life, and
whats

Picker:
Someone

THE WEALTH OF
OPTIONS

important about this

particular decision,
and

what the short- and

long-range conse-

wh
en
yo
ur
e
m
aki
ng
m
en
ial
ch
oic
es
su
ch
as
wh
at
col
ou
r
so

who does
none of the
things that a
chooser
does; a
picker grabs
this and that
and hopes
for the best.
Being a
picker is not
significant

quences of that
deci-

sion may be. They

are

thoughtful enough
to

conclude that
maybe

none of the
available
alternatives are
satis-

ck
s
to
we
ar,
bu
t
de
cis
io
ns
do
nt
al
wa
ys
ap
pe
ar
be
for
e
us
wi
th
th
eir
se
ve
rit
y
of
co
ns
equ
en
ce
s
m
ea
su
re
d
be
for
eh
an
d.

Unfortunately the proliferation of choice in our lives robs us of the opportunity to decide
for ourselves just how important any given decision is (p. 75).

When Only The Best Will Do...

ABSOLUTE BEST vs. GOOD ENOUGH
Maximizer: You seek and only accept the best. You exhaust all
other alterna-tives to make sure that you know that what
youre buying is the absolute best
(quality, price, etc...). You aspire to achieve a given goal and
are less likely to get satisfaction out of the choices you make
compared to the satisfier.
Satisfier: You settle with something that is good enough
and you dont worry about the possibility that there might
be something better out there.

The Paradox of Choice - Why

More is Less
Characteristics of a Maximizer
2.
Maximiz
ers take
long3.
Maximiz
ers
spend
er than
4. Maximizers are more satisfice
likely to experience re-gret rs to deafter a purchase.
more
time
than
satisfice
7. Maximizers savour
rs
positive events less than
cide on
satisficers and do not
a
cope as well with negapurchas
e.
1. Maximizers engage in
more product comparisons than satisficers, both
before and after they
make purchasing decisions.

M
A
X
I
M
I

5. Maximizers are
more 6.
Maximizers
generally
likely to spend
time think- feel
less positive about
ing about
hypothetical
their
purchasing decialternatives to the
pur- sions.
chases theyve
made.

8. After something
bad 9.
Maximizers tend to
happens to them,
compari
maxi- brood or
ng their
ruminate more
purchas
mizers sense of
well- than
ingsatisficers.
decisions
to the decibeing takes longer
sions
to of
others.
recover.
S
peoples
ZING & propensity
c
h
REGRET to
maximize
w
or satisfice
a
based on
r
thirteen
t
everyone
who
items)
also
z
scores high on
scores
the Maximization
on
d
Scale (a scalehigh
deregret.
i
veloped
to
s
determine

covermore
depressed
and
ed than people
Perfe with
that low maximization
ction
peoplscores. ist
4
e with
are
high
not
maxi
syno
mizati
nym
on
FU
ous
score
5
sRT
2 Perfe
experi
ctioni
HE
sts
enced
R
have
less
high
CL
satisf
stand
6
action
AR
ards
with
that
IFI
life,
they
were
dont
CA
less
expe
happy
TI
ct to
, were
meet
ON
less
3
Maxi
optimi
Max
mize
stic,
rs
imiz
and
have
er
were

high standards
that
they
do
expect to meet
Nobody
is
a
maximizer
in
every decision,
and
probably
everybody is in
some.
Overload
of
choice
for
a
maximizer is a
nightmare, but
not
for
a
satisficer
Maximizers may
not even realize
theyre doing it,
but believe to be
the best is to
have the best.

Page
5

The Paradox of Choice Why More is Less

Part 3: Why We Suffer
makes
In this section of us
the book Schwartz happy,
reiterates the
but if
importance of
we
freedom and
believe
autonomy to our
that,
well -being. He
also observes that how
modern Americans can we
dont seem to be explain
gains
benefit-ing from
in
the amount of
wealth
choice that is
available to them , but
(even though they decrea
ses in
have more than
happin
any group of
people have ever ess?
Schwa
had). In order to
rtz
understand why
we are suffering, pulls
conclu
we must understand what makes sions
us happy. Some
from
people might
reguess that money search
ers
who
have
found
that it
is our
close
social
relatio
nships
that
make
us
happy.
People
who
are
marrie

d,
who
have
good
friend
s, and
who
are
close
with
their
famili
es are
happi
er
than
those
who
are
not.
We
are
payin
g for
increa
sed
afflue
nce
and
increa
sed
freedo
m
with a
subst
an-

tial
decr
ease
in
the
qual
-ity
and
qua
ntity
of
soci
al
relat
ions.
Bein
g
soci
ally
conn
ecte
d
take
s
time
.
Peop
le
want
the
clos
enes
s,
not
just
the
acqu
ainta
nces
hip.
Thes
e
relat
ions
hips
take

tim
e
to
de
vel
op
an
d
on
ce
est
ablish
ed,
tak
ea
sig
nifi
ca
nt
am
ou
nt
of
tim
e
to
ma
intai
n.
A
ma
jor
co
ntri
but
or
to
thi
s
tim
e
bur
de

n is the vastly
greater number of
choices we find
ourselves
preparing for,
making, re
-evaluating and
perhaps regretting.

Th
The
is
value of pa
autonom rti
y is built cul
into the ar
fabric of po
our legal int
and
of
moral
e
sys-tem. m
Autonom ph
y is what asi
allows us s
legally
fro
and
m
morally Sc
to be
hw
responsib art
le for our z
actions. is
Its the ap
reason
pli
we praise ca
individ- bl
uals for e
their
to
achieve- th
ments
e
and also vi
blame
ew
them for te
their
ac
failures. he
rs
ho
ld

o
f
t
h
ei
r
st
u
d
e
n
ts
.
W
h
e
n
a
st
u
d
e
n
t
c
o
m
pl
e
t
e
s
t
h
ei
r
h

o
m
e
w
o
r
k
,
s
u
b
m
i
t
s
h
i
g
h
q
u
a
l
i
t
y
a
s
s
i
g

QUES
TION
How
do
we

dete
rmin
e
who
gets
our
time
,

en
er
gy
an
d
lov
e?

actical
PApplicati
r ons

n
rib-ute
re
m
this to
qu
e
choice;
ire
n
they
d
tdetermine of
sd what
th
was
e
a
m
n
w
d
as
pu
rp
d
os
o
ef
e
ul,
s
th
ey
w
en
e
l
ga
l
ge
d
o
in
n
th
e
e
pr
x
oc
a
es
m
s
s
an
,
d
ult
w
im
e
at
el
a
y,
t
ac
t

c
o
m
p
li
s
h
e
d
w
h
a
t
w
e
w
a
n
t
e
d
t
h
e
m
t
o
.
T
h
is
is
a
ls
o
tr

u
e

f
o
r
w
h
e
n
a
s
t
u
d
e
n
t
d
o
e
s
p
o
o
r
l
y
a
c
a
d
e

m
i
c
a
ll
y
.
W
e
b
e
li
e
v
e
t
h
a
t
w
e
d
i
d
e
v
e
r
y
t
h
i
n
g
w

e could
to help
them
and that
they

ch
oo
se
no
t
to
ta
ke

a
d
v
a
n
t
a

g
e
o
f
t
h

e
tion. If
they had
sonly
imade
tbetter
u
choices
a
they
-would

ha
ve
do
ne
be
tt
er
in

o
u
r
cl
a
s
s
e

s
.

Page 6

The Paradox of Choice Why More is Less

Part 3: Why
We Suffer

that you
wont be
near your
family.

* Every
Choice is a burden as choice one
a result of a com-plex makes has
interaction
among opportuni-ty
many psycholog-ical costs
processes
that associated
permeate our culture. with it.
They include:
3. Aversion
to TradeOffs: Being
1. Rising
Expectations: Our forced to
society is built around confront
trade-offs in
being, having and
making deciexperi-encing the
very best. We strive sions makes
to be the best in our people
unhappy and
jobs, drive the best
cars and own the best indeci-sive.
The
houses. Accepting
emotional
anything less is
costs of
considered to be
trade-offs
unacceptable.
diminishes
2. Opportunity
our sense of
Costs: The degree satisfaction
to which one passes with a
up the opportunities decision and
that
a
different interferes
option would have with the
af-forded.
quality of
decisions we
1 This happens
make.
because the
quality of any
4. Adaptatio
given option can
n: Simply
not be assessed put, humans
in isolation from get used to
its alter-natives. things and
then they
Example: An
start to take
opportunity cost of
taking a job near your them for
granted.
romantic partner is

Example:
When airconditioning
is first
installed in
a home, the
homeowner
loves the
new
comfort, but
has to go
into the
outdoor
heat to
remember
the airconditioning
they no
longer have.
5. Regret:
There are
two types
of regret:
Page 7

anticipated and
postdecision. Both
types will raise the
emotional stakes of
decisions.
Anticipated regret
will make decisions
harder to make, and
postdecision regret
will make them
harder to enjoy.
6. Self-Blame: If
someone is responsible for an action that
turns out badly, they
will experience more
regret than if things
had turned out badly
be-cause of
something or
someone else.
Example: If you
choose the restaurant
and have a bad meal,

you will feel

worse about
your
decision
than if you
had eaten at
a restaurant
recommended by a
friend.
7. Social
Comparison
s: The
degree in
which we
evaluate our
own current
state of
affairs is
influenced by
how we see
ourselves
when
compared to
those around

us.
8. Maximizi
ng:
Maximizers
are less
happy, less
satisfied
with their
lives, and
are more
depressed
than satisficers because
the taint of
trade-offs
and
opportunity
costs
washes out
much that
should be
satisfying
about the
decisions
they make.

The Paradox of Choice - Why More is Less

Part 4: What We Can Do
Schwartz offers 11 practical strategies to mitigate and even eliminate many
of the sources of dis-tress that arise because of an overabundance of choice.
He believes having too many choices pro-duces psychological distress,
especially when combined with regret, concern about status, adapta-tion,
social comparison and maximization. The 11 strategies are:

Choose When To
Choose
Be a Chooser, Not a
Picker
Satisfice More and
Maximize Less
Think About the Opportunity
Costs of Opportunity Costs
Make Your Decisions
Nonreversible
Practice and Attitude of
Gratitude

Regret Less
Anticipate Adaptation
Control Expectations
Curtail Social
Comparison
Learn to Love
Constraints

SUMMARY
CRITIQUE
we have, the
less satisfaction
we will derive
from our
Bar decisions. The
ry arguments he
Sch provides for the
war numer-ous
tz examples to
pre support his
sen statements are
ts a evidencedcou based and
nte correlate to the
r- research
int findings. He
uiti draws conve clusions from
phil other
oso researchers and
phy provides the
tha reader with reallife examples.
t
em However, the
ph examples
asi provided are
zes geared toward
the those who come
gre from middle or
ate upper-class
backgrounds.
r
the Not all readers
nu would be able to
mb relate to how
er they felt when
of they were
opt choosing which
ion college to enroll
in or which
s
an luxury S.U.V.s
d they compared
cho before making a
ice vehicular
purchase.
s

le choices and
The why some
mo flourish was the
st difference
sig between
nifi maximizers and
can satisficers. It is
easy for the
t
arg reader to
um identify which
ent category they fit
he into as Schwartz
pro provides short
vid surveys and
ed result
for interpretations
des within the book
crib the reader can
ing complete. I was
wh able to best
y relate to the
cer maximizer
tain profile, and with
indi the help of the
vid final segment in
ual the book What
We Can Do,
s
feel was able to
ove reflect and
rwh decide how I will
elm proceed with
ed decision making
wit in the future in
h all capacities to
the enjoy more of
plet life and allocate
h- the precious
ora time I have to
of the things that
ava really matter,
ilab my friends and
my family.