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robertogreco : paradoxofchoice   6

Should America Be Run by … Trader Joe’s? (Ep. 359) - Freakonomics Freakonomics
"ROBERTO: “I’d like to open a new kind of grocery store. We’re not going to have any branded items. It’s all going to be private label. We’re going to have no television advertising and no social media whatsoever. We’re never going to have anything on sale. We’re not going to accept coupons. We’ll have no loyalty card. We won’t have a circular that appears in the Sunday newspaper. We’ll have no self-checkout. We won’t have wide aisles or big parking lots. Would you invest in my company?”



"So we put on our Freakonomics goggles in an attempt to reverse-engineer the secrets of Trader Joe’s. Which, it turns out, are incredibly Freakonomical: things like choice architecture and decision theory. Things like nudging and an embrace of experimentation. In fact, if Freakonomics were a grocery store, it might be a Trader Joe’s, or at least try to be. It’s like a real-life case study of behavioral economics at work. So, here’s the big question: if Trader Joe’s is really so good, should their philosophy be applied elsewhere? Should Trader Joe’s — I can’t believe I’m going to say this, but … should Trader Joe’s be running America?"
traderjoes  2018  freakanomics  retail  groceries  psychology  choice  paradoxofchoice  decisionmaking  michaelroberto  competition  microsoft  satyanadella  markgardiner  sheenaiyengar  economics  behavior  hiring 
december 2018 by robertogreco
The Agony of Perfectionism - Derek Thompson - The Atlantic
"The fortress of classic economics was built on the slushy marsh of rational consumer theory. The once-popular belief that we all possess every relevant piece of information to make choices about buying fridges, TVs, or whatever, has since given way to a less commendable, but more accurate, description of buyers, which is that we basically have no freaking clue what we're doing most of the time. Prices, marketing, discounts, even the layout of store and shelves: They're all hazards strewn about the obstacle course of decision-making, tripping us up, blocking our path, and nudging us toward choices that are anything but rational.

Today, rather than consider consumers to be a monolith of reason, some economists and psychologists prefer to think of us as falling into two mood groups: maximizers and satisficers. Maximizers are perfectionists. They want the best of everything, and they want to know they have the best of everything. Satisficers are realists. They want what's good enough, and they're happy to have it.

The trouble with perfectionists is that, by wanting the best, they aspire to be perfectly rational consumers in a world where we all agree that's impossible. It's a recipe for dissatisfaction, way too much work, and even depression.

In "Maximizing Versus Satisficing: Happiness Is a Matter of Choice," published in the Journal of Personality and Social Psychology, researchers found that maximizers are more likely to be have regret and depression and less likely to report being happy, optimistic, or have high self-esteem.

To be a maximizer requires an "impossible" and "exhaustive search of the possibilities," that invariably ends with regret when the person realizes, after the purchase, that there might have been a better choice. This regret actually "[reduces] the satisfaction derived from one’s choice." The paradox of caring too much about having the perfect version of everything is that you wind up feel dissatisfied with all of it.

A new paper published in the Journal of Consumer Research further illuminates the onerous woe of perfectionism. Maximizers apply for more jobs, attend more job interviews, spend more time worrying about their social status, and wind up less happy, less optimistic, "and more depressed and regretful" than everybody else.

In a battery of tests designed to prime subjects to act like maximizers and satisficers, the researchers validated just about every stereotype about perfectionists: They work harder, search more deeply, and perform better in their jobs, but the emotional byproducts of their accomplishments are regret and dissatisfaction. (You might say that hard-earned success in life is wasted on the people least likely to appreciate it.)

Both papers concluded that the Internet is a briar patch of misery for maximizers. Not only does it allow them to more easily compare their lot to the sepia-toned success stories of their peers on Facebook and Instagram, but also it makes comparison shopping hell. From the first paper's discussion section:
The proliferation of options [online] raises people’s standards for determining what counts as a success, [from] breakfast cereals to automobiles to colleges to careers. Second, failure to meet those standards in a domain containing multiple options encourages one to treat failures as the result of personal shortcomings rather than situational limitations, thus encouraging a causal attribution for failure that we might call “depressogenic.” [ed: had to look that one up.]

In short: The Internet doesn't have to make you miserable. But if you insist on comparing your choices and your life to every available alternative accessible through a Google search, it will.

For consumers, this means embracing the limitations of classical economics. We don't know everything. We don't have everything. And that's okay. Pretending otherwise is, in fact, anything but rational."

[See also: http://www.swarthmore.edu/SocSci/bschwar1/maximizing.pdf ]
choice  choices  paradoxofchoice  perfectionists  satisficers  economics  rationality  reason  2014  unhappiness  happiness  depression  jobhunting  perfectionism  optimism  regret  worry  anxiety  possibilities  satisfaction  caring  self-esteem  realism  derekthompson  advertising  internet  infooverload  information  comparison 
march 2014 by robertogreco
Liquid Modernity and Social Media – The New Inquiry
"Consumer capitalism prescribes choice over stability, so we are inundated with options but without any enduring frames of reference to make our choices lastingly meaningful, definitive. Options just beget a consciousness of more options. Choosing consigns us to making more and more choices, until the inevitable decision fatigue & ego depletion sets in…the only choice we aren’t offered is the choice not to choose. We’re cut off from all other sources of meaning that might support a different conception of how to be."

"Indeed, the production of consumers itself devours an intolerably large fraction of the total costs of production"

"Now liberation would be an escape from the implications of limitless choice: that we can’t enjoy anything without it being shadowed by the possibility we are missing out on something better. Becoming oneself is just another way of second-guessing oneself."

"Our algorithmic elder brother encourages us all to surveil & report on one another to make his…"
socialnetworks  socialnetworking  performativeidentity  precarity  security  belonging  community  facebook  subjectivity  neoliberalism  labor  immateriallabor  marxism  decisionfatigue  zygmuntbauman  fomo  being  egodepletion  choosing  consumers  consumption  theself  marketing  surveillance  socialmedia  capitalism  society  freedom  liberation  identity  paradoxofchoice  consumerism  choice  choices  2012  robhorning 
september 2012 by robertogreco
Capitalism only creates misery – we need a system that puts human wellbeing first | Comment is free | The Guardian
"…appeal to give up pursuit of wealth isn't an automatic vote-winner. But the alternative to the pursuit of riches is pursuit of a richer vision: neither austerity nor excessive wealth, but rather "sufficiency plus", where needs are met, & then some, while a fuller understating of human welfare is championed.

Having less can be more. Too much choice is not liberating. There is something to be said for rhythms of life, for patience & delayed gratification, where everything isn't available instantaneously. Seasons are enjoyed because they aren't there all year round. 50-hour weeks come at the expense of family & friends. That's if we have a job at all.

As well as robbing us of our lives, the system pits us against one another in an endless quest for more, which fuels greater inequality, dissatisfaction and unfulfilment—for both the winners & losers. We feel left behind our neighbours & other countries if we don't better ourselves economically. We have forgotten who the economy is for."
socialism  paradoxofchoice  choice  patience  delayedgratification  simplicity  sustainability  environment  progressive  progressivism  materialism  humanism  jonathanbartley  economics  policy  politics  uk  well-being  consumerism  wealth  greenparty  marxism  capitalism 
january 2012 by robertogreco
RSA Animate - Choice - YouTube
"In this new RSAnimate, Professor Renata Salecl explores the paralysing anxiety and dissatisfaction surrounding limitless choice. Does the freedom to be the architects of our own lives actually hinder rather than help us? Does our preoccupation with choosing and consuming actually obstruct social change?"
culture  society  psychology  choce  renatasalecl  anxiety  socialism  communism  capitalism  regard  socialchange  change  belief  pretext  rights  paradoxofchoice  ideology  consumption  perception  presentationofself  guilt  satisfaction  opportunitycost  loss  yugoslavia  sexuality  inadequacy  selfmademan  celebrity  psychoanalysis  lacan  freud  submission  bulimia  anorexia  workaholics  failure  ideologyofchoce  politics  sociology  fear 
august 2011 by robertogreco
The Technium: The Satisfaction Paradox
"Let's say that after all is said and done, in the history of the world there are 2,000 theatrical movies, 500 documentaries, 200 TV shows, 100,000 songs, and 10,000 books that I would be crazy about. I don't have enough time to absorb them all, even if I were a full time fan. But what if our tools could deliver to me only those items to choose from? How would I -- or you -- choose from those select choices?"
kevinkelly  serendipity  choice  paradox  paradoxofchoice  satisfaction  satisfactionparadox  netflix  amazon  scarcity  abundance  google  spotify  music  film  curation  filters  filtering  discovery  recommendations  psychology  economics 
april 2011 by robertogreco

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