Irrationality & Paradox of Choice - Deepstash

Irrationality & Paradox of Choice

Paradox of choice is an experiment carried offering shoppers an assortment of 24 types of jam led to fewer sales than presenting just 6 types. A rational agent would, of course, prefer more choice, so clearly people are irrational.

Recent studies however showed we are not so easily described:

  • When we buy something only for its functional utility, options don't help—whatever does the job is good enough.
  • When we are looking for something that will give us pleasure, our preferences are more specific & we are more demanding.

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vladimir

Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.

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