The Paradox of Choice - Why More Is Less, Revised Edition

Key Facts and Insights from "The Paradox of Choice - Why More Is Less, Revised Edition"

1. Choice Overload: The book introduces the concept of "choice overload," which is the idea that an excess of options can lead to stress and dissatisfaction.
2. Maximizers and Satisficers: Schwartz categorizes people into two types: Maximizers, who obsess over making the absolute best choice, and Satisficers, who make a good enough choice that meets their minimum criteria.
3. Opportunity Costs: The book discusses the concept of opportunity costs and how it can induce regret and make the decision-making process more complicated.
4. Expectation Escalation: When there...

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