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What Makes Us Happy?                      Barry Schwartz on The Paradox of ChoiceTuesday, July 3, 12
The Official Dogma	                       The more choice people have, the more                      freedom they have, and...
Super MarketTuesday, July 3, 12
Electronics StoreTuesday, July 3, 12
Just for fun...Tuesday, July 3, 12
SkitTuesday, July 3, 12
Skit                                Well, we could do A, or we                        could do B. A has benefits, and these...
Skit                                Well, we could do A, or we                        could do B. A has benefits, and these...
Skit                                Well, we could do A, or we                        could do B. A has benefits, and these...
Skit                                Well, we could do A, or we                        could do B. A has benefits, and these...
Skit                                Well, we could do A, or we                        could do B. A has benefits, and these...
Patient AutonomyTuesday, July 3, 12
Patient Autonomy                      Shifting of burdens and responsibility from someone who                      knows s...
Patient Autonomy                      Shifting of burdens and responsibility from someone who                      knows s...
What’s Bad                                                     The second effect is that even if                          ...
Paradoxically: produces paralysis rather than                 liberation                      Paralysis is a consequence o...
Escalation of Expectation                      With more choices, expectation will increase.Tuesday, July 3, 12
Less satisfied with the result of choice                      There will be better alternatives than the one you choseTuesd...
Why choice makes people miserable?                      Regret and Anticipated Regret                      Opportunity Cos...
The Official Dogma	                       The more choice people have, the more                      freedom they have, and...
The Official Dogma	                       The more choice people have, the more                      freedom they have, and...
Secret to HappinessTuesday, July 3, 12
Secret to Happiness                      EXPECT LESS!Tuesday, July 3, 12
Thank You!Tuesday, July 3, 12
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Paradox of choice presentation

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Paradox of choice presentation

  1. 1. What Makes Us Happy? Barry Schwartz on The Paradox of ChoiceTuesday, July 3, 12
  2. 2. The Official Dogma The more choice people have, the more freedom they have, and the more freedom they have, the more welfare they have.Tuesday, July 3, 12
  3. 3. Super MarketTuesday, July 3, 12
  4. 4. Electronics StoreTuesday, July 3, 12
  5. 5. Just for fun...Tuesday, July 3, 12
  6. 6. SkitTuesday, July 3, 12
  7. 7. Skit Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do?Tuesday, July 3, 12
  8. 8. Skit Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? Doc, What should I do?Tuesday, July 3, 12
  9. 9. Skit Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? Doc, What should I do? Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do?Tuesday, July 3, 12
  10. 10. Skit Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? Doc, What should I do? Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? If you were me, Doc, what would you do?Tuesday, July 3, 12
  11. 11. Skit Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? Doc, What should I do? Well, we could do A, or we could do B. A has benefits, and these risks, B has benefits, and these risks. What do you want to do? If you were me, Doc, what would you do? But I’m not you.Tuesday, July 3, 12
  12. 12. Patient AutonomyTuesday, July 3, 12
  13. 13. Patient Autonomy Shifting of burdens and responsibility from someone who knows somethingTuesday, July 3, 12
  14. 14. Patient Autonomy Shifting of burdens and responsibility from someone who knows something To somebody who knows nothing and is almost certainly sick, thus not in the best shape to make decisions.Tuesday, July 3, 12
  15. 15. What’s Bad The second effect is that even if we manage to overcome the paralysis and make a choice, we With so many options to choose end up less satisfied with the from, people find it very difficult to result of the choice than we would choose at all. Ill give you one very be if we had fewer options to dramatic example of this: a study that choose from. And there are was done of investments in voluntary several reasons for this. One of retirement plans. A colleague of mine them is that with a lot of different got access to investment records salad dressings to choose from, if from Vanguard, the gigantic mutual you buy one, and its not perfect -- fund company of about a million and, you know, what salad employees and about 2,000 different dressing is? -- its easy to imagine workplaces. And what she found is that you could have made a that for every 10 mutual funds the different choice that would have employer offered, rate of been better. And what happens is participation went down two percent. this imagined alternative induces You offer 50 funds -- 10 percent you to regret the decision you fewer employees participate than if made, and this regret subtracts you only offer five. Why? Because from the satisfaction you get out with 50 funds to choose from, its so Paradoxically: produces paralysis rather than liberation of the decision you made, even if damn hard to decide which fund to it was a good decision. The more choose that youll just put it off until options there are, the easier it is to tomorrow. And then tomorrow, and regret anything at all that is then tomorrow, and tomorrow, and disappointing about the tomorrow, and of course tomorrow never comes. Understand that not Escalation of Expectation only does this mean that people are going to have to eat dog food when they retire because they dont have enough money put away, it also means that making the decision is so hard that they pass up significant Less satisfied with the result of choice matching money from the employer. By not participating, they are passing up as much as 5,000 dollars a year from the employer, who would happily match their contribution. So paralysis is a consequence of having too many choices.You really want to get the decision right if its for allTuesday, July 3, 12
  16. 16. Paradoxically: produces paralysis rather than liberation Paralysis is a consequence of having too many choices With too many choices, people find it harder to make a choiceTuesday, July 3, 12
  17. 17. Escalation of Expectation With more choices, expectation will increase.Tuesday, July 3, 12
  18. 18. Less satisfied with the result of choice There will be better alternatives than the one you choseTuesday, July 3, 12
  19. 19. Why choice makes people miserable? Regret and Anticipated Regret Opportunity Cost Escalation of expectations Self-BlameTuesday, July 3, 12
  20. 20. The Official Dogma The more choice people have, the more freedom they have, and the more freedom they have, the more welfare they have.Tuesday, July 3, 12
  21. 21. The Official Dogma The more choice people have, the more freedom they have, and the more freedom they have, the more welfare they have.Tuesday, July 3, 12
  22. 22. Secret to HappinessTuesday, July 3, 12
  23. 23. Secret to Happiness EXPECT LESS!Tuesday, July 3, 12
  24. 24. Thank You!Tuesday, July 3, 12

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