Wednesday, 3 June 2020

The Paradox of Choice


I was reading an interesting book this week, called The Paradox of Choice by Barry Schwartz.
He tells us why More is Less.
We are often confronted with a huge array of choice. Every day, we are faced with choices from the clothes we wear, the food we eat, how to spend our time, how to spend our money. We are bombarded with adverts daily, each tugging us and inviting us to make another choice to buy buy buy.
Barry explains why this is actually causing us pain. He argues that being confronted with an abundance of choice can be so demanding that it causes psychological distress, making it hard for us to choose.
For example, the opportunity cost of making a decision to choose one thing over another - did I make the best decision? Should I have gone for the other choice?
Then, when we’re presented with seemingly unlimited options but the choices we actually make turn out disappointing, we tend to blame ourselves – which produces genuine suffering
So what does he suggest?
He suggests striving to become a Satisficer.
What is a Satisficer?Satisficing is a fairly simple decision strategy – it means searching until you find the option that meets your standards, and stopping at that point.Barry explains that Satisficers do not strive for perfection, and because they don’t compare among endless alternatives when choosing, they don’t experience the decrease in satisfaction that comes from contemplating what the other options might have afforded them.
So next time that you you are faced with an array of choices, be clear and specific about what you are looking for, and as soon as you find what meets your requirement, stop searching any longer.
It seems that Less is indeed More!

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