Summary of the Blinkist summary :
The Paradox of Choice shows us how we can avoid the negative effects of choice overload by seeking out some measure of appropriate constraint.
Option inversely related to satisfaction
Whenever we have to make decisions involving opportunity costs (the forgone benefit that would have been derived by an option not chosen), we’ll feel less satisfied with our choice than we would if the alternatives were unknown to us. The more options we have, the less satisfaction we get from our decisions.
Hedonic adaptation
We get used to things be it positive or negative.
Maximising → Satisficing
Satisficers are characterised by having a certain standard they adhere to when choosing, instead of having “the best” as their goal.
A satisficer’s world is divided into two categories:
• Options that meet their standard
• Options that don’t
Satisficing is a fairly simple decision strategy – it means searching until you find the option that meets your standards, and stopping at that point. To be a satisficer, all that’s required is to let go of any expectation that “the best” is attainable.
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