The book I'm referring to is truly significant for me as it delves into some remarkable research. There are several key highlights worth noting.
In the prologue, it's pointed out that "choice no longer liberates, but debilitates" due to "choice overload". We might be better off if we embraced limits on choice. For example, by seeking "good enough" instead of the best, lowering our expectations about decisions, making decisions nonreversible, and not comparing ourselves to others too much.
When it comes to when we choose, various studies are presented. In the shopping example, only 30% of people bought from the small sample of jams, while a mere 3% bought from the large sample, and those from the small sample were more satisfied. In new choices like healthcare, beauty, and religion, interesting trends emerge. For instance, 65% say they would choose their own treatment if they got cancer, but only 12% actually do so.
How we choose is also explored. Experienced, expected, and remembered utility rarely align faithfully. The "peak-end" rule by Kahneman et. al. shows that people prefer noise that ends less unpleasantly even if the maximal unpleasantness lasts longer. Availability heuristic, saliency, and other factors influence our decisions. Maximizers, who seek only the best, face more difficulties and are less happy compared to satisfiers who are okay with "good enough".
The reasons why we suffer in the face of choice are examined in detail. Choice has expressive value, but close social relations are crucial for happiness, yet they decrease autonomy. Income affects happiness only until people are no longer poor. Missed opportunities, the problem of regret, adaptation, and the impact of comparison all play a role in our well-being. For example, lottery winners are not necessarily happier, and bronze medalists are happier than silver medalists due to the pain of near misses.
Finally, suggestions on what we can do about choice are provided. We can choose when to choose, be a chooser rather than a picker, satisfice more and maximize less, think about opportunity costs, make decisions nonreversible, practice gratitude, regret less, anticipate adaptation, control expectations, curtail social comparison, and learn to love constraints. By implementing these strategies, we can better navigate the complex world of choice and enhance our overall quality of life.
Schwartz vividly describes how an overabundance of choices in our lives can lead to unhappiness and suffering. He delves into the numerous sources of choices in modern life, such as the plethora of consumer goods and the wide range of career options. He also explores some of the psychological factors related to choice making, like the fear of missing out and the need for perfection. Schwartz explains how choices can cause unhappiness, for example, by creating a sense of regret when we compare our chosen option to the ones we didn't select. He then presents several techniques for dealing with this unhappiness, such as learning to be content with good enough and focusing on the positive aspects of our choices.
First of all, Schwartz emphasizes that choice is indeed good and crucial for happiness. However, in the current context of 21st century US, we are inundated with choices, many of which are not significant and were not present in the past. He argues that while choice is important, expending brain power on unimportant choices gradually erodes happiness. The important choices vary from person to person, so society doesn't necessarily need to reduce the available choices. Instead, individuals should learn to focus on the choices that matter to them and disregard the rest.
Schwartz then goes on to discuss decision making. He breaks it down into several steps, including identifying goals, evaluating the importance of each goal, listing the options, assessing each option in relation to the goals, choosing the winning option, and using the consequences of the choice to improve future decision making processes. In reality, this process is often followed only partially and with limited awareness.
Schwartz proposes that there are two types of choosers: maximizers and satisficers. Maximizers strive to make the best possible decisions, while satisficers have a set of goals and are satisfied with any choice that meets those goals. He claims that maximizers may achieve objectively better results, but satisficers tend to have better subjective results, meaning they are happier. Everyone exhibits traits of both maximizers and satisficers in different areas of their lives, but most people have a general倾向 towards one or the other.
The core of the book explores how choice can decrease happiness. There are two key points. First, comparing a chosen option to the alternatives that could have been made usually reduces happiness, as there is likely some aspect in which the other choice was superior. Second, people adapt over time, and the happiness derived from a choice diminishes, contrary to the expectation that it would remain constant. These two factors make people more prone to regretting their choices and feeling a lack of control over their happiness. Moreover, these factors are more potent for maximizers as they cannot rely on the idea that their goals were met.
After presenting a compelling case that excessive choice can lead to decreased happiness, Schwartz offers a set of tips for preventing too much choice from negatively impacting your happiness. For example, he suggests choosing when to choose, being a chooser rather than a picker, satisficing more and maximizing less, and thinking about the opportunity costs of opportunity costs. He also recommends making decisions non-reversible, practicing an "attitude of gratitude", regretting less, anticipating adaption, controlling expectations, curtailing social comparison, and learning to love constraints.
Schwartz justifies his claims reasonably well by citing psychological studies, and he is generally adept at distinguishing between his own hypotheses and inferences and those that are based on established research. Overall, his arguments are persuasive, and his claims are largely consistent with my own experience, leading me to believe in his overall premise that too much choice can reduce happiness.
My main criticism of The Paradox of Choice is that Schwartz sometimes seems to be padding his points with repetition to lengthen the book. The essential content could have been condensed into a long essay. Since there isn't much of a market for long essays these days, I don't fault Schwartz for expanding the material to book length.
After reading this book, I plan to be more consciously aware of when I am making choices, when those choices are diminishing my happiness, and which choices are important to me. This awareness alone makes the book worth reading for me.
A very interesting book delves into the psychological reasons behind the choices people make and the consequences of an increased number of options on their overall satisfaction.
The author's thesis posits that while some choice is beneficial, an excessive amount of choice is not necessarily better. In our culture, we cherish freedom, self-determination, and variety, and are reluctant to forgo any of our options. However, tenaciously adhering to all available choices can lead to poor decisions, anxiety, and stress.
Here are a few personal takeaway points:
Choice overload can cause pre- and/or post-regret. The concept of "inaction inertia" (as quoted below) rang true for me, as it might explain why I often return from shopping empty-handed (much to the frustration of my satisfier husband due to my maximizer attitude).
Our evaluation of an experience is as much a reflection of our expectations as it is of the experience itself. For example, a student receiving a B+ grade - is it good or bad? If they expected an A, it's bad news, but if they expected a B, they will be pleased. This reinforces the Buddhist theory that lowering expectations is a path to finding happiness.
Unattainable expectations combined with a tendency to take personal responsibility for failure is a harmful combination. Maximizers invest a great deal of effort in decision-making and have higher expectations for the outcomes. Consequently, when things go wrong, they are more likely to be bitterly disappointed and are prime candidates for depression.
Social comparison provides information that helps people evaluate experiences and set their own "hedonic thermometer." For instance, when reading a highly praised book, if it doesn't meet the "hype" (subjectively speaking), I may feel disappointed and rate it lower. Conversely, I may give a higher rating to a book that I didn't expect to enjoy as much.
There is a great deal of common sense in this book, and while the proffered advice may not be entirely ground-breaking, the author presents numerous examples to support the theory that too much choice is not an advantage. These case studies span various fields such as health insurance, retirement plans, medical care, and identity, which I had not previously considered and which made me reflect. I would rate this book 3.5 stars.
Favorite quotes:
It seems to be a fairly general principle that when making choices among alternatives that involve a certain amount of risk or uncertainty, we prefer a small, sure gain to a larger, uncertain one. Most of us, for example, will choose a sure $100 over a coin flip (a fifty-fifty chance) that determines whether we win $200 or nothing. When the possibilities involve losses, however, we will risk a large loss to avoid a smaller one. For example, we will choose a coin flip that determines whether we lose $200 or nothing over a sure loss of $100.
Bronze medalists are happier than silver medalists. As the silver medalists stand on the award platform, they’re thinking about how close they came to winning the gold. Just a little more of this, and a little less of that, and ultimate glory would have been theirs. As the bronze medalists stand on that platform, however, they’re thinking about how close they came to getting no medal at all. The near miss of the silver medalists is triumph, whereas the near miss of the bronze medalists is also-ran obscurity.
Another effect that the desire to avoid regret can have is to induce people not to act at all, what is called inaction inertia. Imagine being in the market for a sofa and seeing one you like on sale for 30 percent below list price. It’s fairly early in your search, and you think that you may be able to do better, so you pass up the sale. Several weeks of shopping fail to turn up anything better, so you go back to buy the one you saw earlier. The trouble is that now it’s selling for 10 percent off list price. Do you buy it? For many shoppers, the answer is no. If they buy it, there will be no way to avoid regretting not having bought it earlier. If they don’t buy it, they still keep the possibility alive that they’ll find something better.
The more options there are, the more if only’s you will be able to generate. And with each if only you generate will come a little more regret and a little less satisfaction with the choice you actually made. Though it may be annoying to go into a bank and discover that only a single teller’s window is open and the line is long, there won’t be anything to regret. But what if there are two long lines and you choose the wrong one?