the paradox of choice: why more is less

The Paradox of Choice: Why More Is Less

Barry Schwartz

Ohio Board of Regents

November, 2012

The “Official Syllogism”

• More freedom means more well being• More choice means more freedom• More choice means more well being

285 Varieties of cookies

75 Iced teas

40 Toothpastes

230 Soups

175 Salad dressings

275 Cereals

Phone Service and Gear

College Courses

Is this good news or bad news?

YES!

What Too Much Choice Does: Paralysis (Iyengar)

• Buying jam

• 401(k) investing

• Extra-credit essays

What Too Much Choice Does: Decision and Performance

Quality

401 (k)

Medicare Part D

Extra-credit essays

Drawing by four-year-olds

Choice and Self-Control

What Too Much Choice Does: Satisfaction

1. Regret and anticipated regret

What Too Much Choice Does: Satisfaction

What Too Much Choice Does: Satisfaction

1. Regret and anticipated regret

2. Missed opportunities

Missed Opportunities and College Students

“Everything Suffers from Comparison”

(Brenner, Rottenstreich, & Sood, Psych Science, 1999)

What Too Much Choice Does: Satisfaction

1. Regret and anticipated regret

2. Missed opportunities

3. Escalation of expectations

How Can Choice Be Good and Bad?

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Number of Choices

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Number of Choices

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Number of Choices

Finding the “Sweet Spot”

(Shah & Wolford)

“Libertarian Paternalism”(Sunstein & Thaler, U. of Chicago Law Review, 2003; Thaler

& Sunstein, Nudge, 2009)

• Organ donation

The Power of Defaults(Johnson & Goldstein, Science, 2003)

What Can Be Done

• Limited options

• Pay attention to defaults and “choice architecture”

• Careful monitoring and feedback

• Lots of guidance when there is choice

• Careful advising

Choice, Happiness, and Academic Performance