Sidra Sehreen

CMS: 23818
MSMS
Managerial Decision Making
Assignment no.: 02
Riphah International University
THE PARADOX OF CHOICE | Barry Schwartz
https://www.youtube.com/watch?v=VO6XEQIsCoM

What is the formal dogma of industrial culture? This dogma run in a way that if we want to rise
individual freedom of people we have to increase the number of choices. The reason behind is
freedom is itself good and valuable to human being. If we have freedom, we do thing on our
own, no one have to decide on our behalf. The way to maximize freedom is to maximize choices.
More choices someone has mean more freedom so on more welfare. You also have to identify
yourself that what type of individual you want to be. Even in matter of friends and family, you
decide to whom and when you are going to marry and who will be your friend. It is a technology
which has made us to do the things anytime anywhere on the planet. Whenever we are talking
about the choices it means that we have to take the decisions again and again. Wherever we look
life is a matter of choices. All these choices have fourth negative effects on people.

1-Regret and anticipated regret: It is actually paralysis instead of liberation, and we found it
very difficult to choose among the alternatives.

2- Opportunity cost: after making a choice, we are less satisfied as we have to choose one in
alternatives, we might be thinking that the other choice might be more beneficent. It is regretful
for us and this regret makes us dissatisfied. If there are more options there are more chances of
regret. We also bear opportunity cost while selecting an alternative.

3-esclation of expectation: while choosing among different alternative our expectations go on as

different alternatives have different features and we want to choose that one which have all the
best features, but we felt worse after making a choice. When we are in one flavor we don’t have
so many expectations but our expectations increases with increase in number of flavors.

4- self-blame: Now a day’s people can’t be satisfied as their satisfaction has gone the roof. The
secret of happy life is low expectation. Who is responsible for all this dissatisfaction and
disappointment? The answer of this question is “You”.