Key to Being…

Having choices is nice.  It can be marvelous.  It is a mark of freedom.

It can also induce a sudden paralyzed-deer-in-headlights look in front of the cereal aisle.

Simply try to choose some cereal or a yoghurt for breakfast (nonfat, lowfat or whole, fruit on bottom or mixed, with granola or without, organic or standard, soy, cow, sheep, or goat milk …etc).

I’m not advocating having no choices, but the multitude we face today is overwhelming to our overworked little grey cells.  Studies indicate that instead of a feeling of freedom at heaps of choices, we are stuck with anxiety, wasted time and decision-paralysis.

Barry Schwartz, professor and author of “The Paradox of Choice: Why More is Less”, cites one study in which a supermarket did a jam tasting.  The first day, they offered 23 different flavors.  The second day, only 6.  The first day more people expressed interest in the jams, but few bought any.  The second day less people stopped by the table, but those that did were 10 times more likely to actually purchase jam.  Below are the issues Schwartz lists:

Why too many choices make us unhappy

1. Opportunity cost. Opportunity cost is the value of the most attractive foregone alternative.  Having too many choices, we start to create an idealistic view of all the previous alternatives. 
2. Regret. People generally feel worse about inaction than action, and too many choices delay action or annul it altogether.  Then we regret either not having made a decision (and all the missed opportunities) or we regret the decision made (because we missed all the other, possibly better, opportunities). 
3. Escalated expectations. Ample abundance increases our expectations.  The more choices we have, the more we will compare, and the more we will expect from our final choice, which can ultimately lead to disappointment and a feeling of ‘let-down.’

Some studies also established that too many choices cause people to make snap decisions and over-simplify their strategy in making choices.

Coping with the flood of choices: 7 tips

Social psychologist Alexander Chervnew, PhD (Northwestern University’s Kewllogg School of Management), reports in a 2003 Journal of Personality and Social Psychology (JPSP) paper (Vol. 85, No. 1) that the more choices, the more difficult it is to choose, unless the person enters with a certain preference in mind.  Having a set idea in mind, the person ends up settling for the first decent option that suits them, also called “satisficing” by Nobel Laureate Herb Simon, PhD.

1. Go into the situation with a set idea or preference of what you want
2. Review the options, and choose something you feel fine with.  Don’t look for perfect
3. Study “Consumer Report” and other consumer review journals
4. Forget regret after you have made the decision. It’s done, so move on.
5. Make a decision. In the long run people feel worse about inaction than action.  And try not to spend an hour deciding on that yoghurt.
6. If you are able to, stay away from a situation, store or web site where you will have too many choices
7. Outsource.  If you can afford it and have the desire, you always have the choice to pay someone to make your decisions.  (e.g. interior decorator, financial advisor, etc).

So next time you are contemplating the 73 types of crackers, 50 pain relievers, 200 cell-phones and thousands of investment options, take some time out and review the above tips.  Take a deep breath and smile at your inner zen.