The Paradox of Choice

The Paradox of Choice - Why More Is Less - A Comprehensive Summary

Starting with choosing cereal at a local store to buying jeans, the number of options to choose from is ever increasing in the name of freedom for the individual.
We can imagine a point at which the options would be so copious that even the world’s most ardent supporters of freedom of choice would begin to say ‘enough already.’ But that point doesn’t seem to come.
Choosing retirement plans: Not every employee is going to know what a good retirement investment plan is, and if he chooses a wrong plan he will lose his retirement money. Even though it is a freedom of choice for the employee, not every employee is going to be a financial expert. This new choice demands more extensive research and creates more individual responsibility for failure. As we were given the freedom to choose, any failure will be our responsibility.
Choosing Medical Care: In the 1990s and 2000s, if we went to a doctor he would do all the tests for us under a standard protocol for physical exams but nowadays it is not like that. Now, we have to tell the doctor what he/she has to do even though he/she is the specialist. Another life-altering choice given to us even though we don’t have time to do extensive research and become experts.
When given free samples of jams in a store, 30% of people exposed to 6 jams bought a jar. Only 3% of people exposed to 24 jams bought a jar.
The cumulative effect of these added choices causes substantial distress.
We are trapped in what Fred Hirsch called, ‘The Tyranny of Small Decisions.”


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