1 00:00:14,956 --> 00:00:15,396 Speaker 1: Pushkin. 2 00:00:29,676 --> 00:00:34,916 Speaker 2: When our oldest grandchild was five ish, my wife went 3 00:00:34,996 --> 00:00:38,716 Speaker 2: with her to the supermarket to buy a toothbrush, and 4 00:00:38,876 --> 00:00:42,556 Speaker 2: she got to the toothbrush section of the aisle and 5 00:00:42,596 --> 00:00:45,716 Speaker 2: there were one hundred and fifty or so, and she 6 00:00:45,836 --> 00:00:49,556 Speaker 2: stood there, my five year old granddaughter, and was just 7 00:00:49,716 --> 00:00:54,916 Speaker 2: completely overwhelmed and paralyzed and finally said, Grandma, would you pick? 8 00:00:55,876 --> 00:00:58,236 Speaker 3: Does this sound familiar? Maybe for you? 9 00:00:58,316 --> 00:01:01,556 Speaker 1: It wasn't toothbrushes, but what couch to buy or what 10 00:01:01,716 --> 00:01:06,356 Speaker 1: doctor to see. Social psychologist Barry Schwartz, an emeritus professor 11 00:01:06,396 --> 00:01:10,516 Speaker 1: at Swarthmore, has spent decades challenging the idea that more 12 00:01:10,676 --> 00:01:12,076 Speaker 1: choice is always better. 13 00:01:12,636 --> 00:01:18,156 Speaker 2: It makes making decisions harder, it makes making good decisions harder, 14 00:01:19,156 --> 00:01:22,516 Speaker 2: and it ends up making you less satisfied even when 15 00:01:22,556 --> 00:01:25,156 Speaker 2: you manage to make a good decision, because you know, 16 00:01:25,676 --> 00:01:28,396 Speaker 2: somewhere out there is something that is even better. 17 00:01:32,836 --> 00:01:36,876 Speaker 1: On today's show, Finding Satisfaction in a World full of 18 00:01:37,036 --> 00:01:42,196 Speaker 1: endless choice, I'm maya Shunker and this is a slight 19 00:01:42,276 --> 00:01:45,276 Speaker 1: change of plans, a show about who we are and 20 00:01:45,316 --> 00:01:57,996 Speaker 1: who we become in the face of a big change. 21 00:02:00,196 --> 00:02:03,836 Speaker 1: Barry Schwartz is an expert on decision making His latest 22 00:02:03,836 --> 00:02:07,556 Speaker 1: book is called Choose Wisely. In it, he challenges some 23 00:02:07,636 --> 00:02:11,076 Speaker 1: of the conventional wisdom tools people use to make decisions, 24 00:02:11,636 --> 00:02:13,916 Speaker 1: as well as what it even means to make the 25 00:02:14,036 --> 00:02:17,956 Speaker 1: right choice. We began with an overview of various models 26 00:02:17,956 --> 00:02:20,876 Speaker 1: of decision making. There are all kinds of ways that 27 00:02:20,916 --> 00:02:23,556 Speaker 1: people make decisions, right. Some people go with their gut. 28 00:02:23,996 --> 00:02:26,596 Speaker 1: Others choose a decision based on what they think will 29 00:02:26,596 --> 00:02:30,796 Speaker 1: minimize regret. Others go with their faith. They ask God, 30 00:02:31,156 --> 00:02:33,636 Speaker 1: can you just give us a quick history lesson on 31 00:02:34,556 --> 00:02:37,756 Speaker 1: these different models and how the scientific understanding of decision 32 00:02:37,756 --> 00:02:39,356 Speaker 1: making has evolved over time. 33 00:02:40,116 --> 00:02:45,076 Speaker 2: I'd be delighted in some respects. This is the story 34 00:02:45,116 --> 00:02:48,556 Speaker 2: that the book Choose Wisely is trying to tell. You 35 00:02:48,636 --> 00:02:53,156 Speaker 2: went through all of the kinds of approaches that people 36 00:02:53,236 --> 00:02:55,436 Speaker 2: might have to make decisions that would occur to me. 37 00:02:56,196 --> 00:03:01,436 Speaker 2: Going with your gut, relying on religious advice, relying on 38 00:03:01,516 --> 00:03:05,756 Speaker 2: what your friends have chosen, relying on what respected elders 39 00:03:05,796 --> 00:03:09,636 Speaker 2: have chosen, relying on habit, do the same thing today 40 00:03:09,716 --> 00:03:14,356 Speaker 2: that you did last week. All of these are ways 41 00:03:14,396 --> 00:03:17,476 Speaker 2: to ease the burden of choosing. In effect, when you 42 00:03:17,596 --> 00:03:21,196 Speaker 2: do any of those things, you're delegating the choice to 43 00:03:21,796 --> 00:03:27,196 Speaker 2: some respected other person, either the previous you, or you know, 44 00:03:27,276 --> 00:03:29,676 Speaker 2: an elder in the community, or a good friend or 45 00:03:29,796 --> 00:03:30,396 Speaker 2: what have you. 46 00:03:31,156 --> 00:03:34,076 Speaker 1: What you just said reminds me of this very common 47 00:03:34,156 --> 00:03:36,556 Speaker 1: refrain we have in these tough moments of decision making. 48 00:03:36,956 --> 00:03:38,156 Speaker 3: Can you just decide for me? 49 00:03:38,596 --> 00:03:38,796 Speaker 4: Yeah? 50 00:03:39,116 --> 00:03:40,356 Speaker 3: How many times do we ask that? 51 00:03:40,396 --> 00:03:43,236 Speaker 1: We asked set of physicians, we askset of our parents, 52 00:03:43,236 --> 00:03:45,916 Speaker 1: we asked of our friends, of our spouses, Just make 53 00:03:45,956 --> 00:03:46,556 Speaker 1: the choice for me. 54 00:03:46,676 --> 00:03:47,796 Speaker 3: In fact, a lot of. 55 00:03:47,716 --> 00:03:50,916 Speaker 1: Times in my life I've wanted the universe to eliminate 56 00:03:50,956 --> 00:03:53,036 Speaker 1: an option, just so that I don't have to make 57 00:03:53,076 --> 00:03:56,956 Speaker 1: the choice and have to deal with the psychic costs 58 00:03:56,956 --> 00:04:00,356 Speaker 1: afterwards of regret and you know, questioning whether I actually 59 00:04:00,436 --> 00:04:01,316 Speaker 1: made the right choice or not. 60 00:04:01,796 --> 00:04:05,836 Speaker 2: But here's the thing, from the perspective of the discipline 61 00:04:05,836 --> 00:04:09,516 Speaker 2: of economics on the one hand, and the psychology of 62 00:04:09,596 --> 00:04:15,156 Speaker 2: decision making, any one of those alternatives you described is 63 00:04:15,716 --> 00:04:19,516 Speaker 2: inferior to doing it the right way. 64 00:04:19,956 --> 00:04:23,116 Speaker 1: And to clarify, Barry, when you say quote the right way, 65 00:04:23,596 --> 00:04:27,236 Speaker 1: you're referring to a framework called rational choice theory, right. 66 00:04:27,276 --> 00:04:30,676 Speaker 1: It is a model for how people ought to make decisions. 67 00:04:30,996 --> 00:04:33,436 Speaker 1: And you actually take issue with this model, which we'll 68 00:04:33,436 --> 00:04:36,156 Speaker 1: get to a bit later, but for now, tell us 69 00:04:36,196 --> 00:04:37,596 Speaker 1: what this theory purports. 70 00:04:38,356 --> 00:04:43,316 Speaker 2: Rational choice theory, mostly the product of economists, is the 71 00:04:43,396 --> 00:04:48,996 Speaker 2: view that the way to make good decisions, rational choices, 72 00:04:49,876 --> 00:04:55,596 Speaker 2: is to assess how valuable each option is to you, 73 00:04:57,396 --> 00:05:01,756 Speaker 2: and how likely it is to be as valuable as 74 00:05:01,796 --> 00:05:05,796 Speaker 2: you think it is. Every decision is a prediction. We 75 00:05:05,876 --> 00:05:09,436 Speaker 2: sometimes predict that we'll love a restaurant and we don't. 76 00:05:09,436 --> 00:05:11,236 Speaker 2: Well of a car, and we don't and so on. 77 00:05:11,796 --> 00:05:14,836 Speaker 2: You create a little spreadsheet, you fill in for every 78 00:05:14,876 --> 00:05:18,436 Speaker 2: option those two numbers, and then you do the math. 79 00:05:18,636 --> 00:05:22,916 Speaker 2: That's the way rational people make decisions. And let me 80 00:05:22,996 --> 00:05:26,356 Speaker 2: just say there's a cousin to this that is much 81 00:05:26,596 --> 00:05:31,316 Speaker 2: more consequential in a way because it affects policy decisions 82 00:05:31,356 --> 00:05:34,956 Speaker 2: of whole entities rather than just yours and my decisions 83 00:05:34,996 --> 00:05:39,756 Speaker 2: as individuals. And it's called cost benefit analysis. You know, 84 00:05:40,276 --> 00:05:45,076 Speaker 2: what's the best way to reduce our carbon footprint? Lots 85 00:05:45,116 --> 00:05:49,876 Speaker 2: of people have different ideas about that, and the idea 86 00:05:49,916 --> 00:05:52,636 Speaker 2: is that probably is a best way. And the way 87 00:05:52,676 --> 00:05:55,476 Speaker 2: you figure it out is you figure out how much 88 00:05:55,516 --> 00:05:59,076 Speaker 2: it will cost to implement and how large the benefit 89 00:05:59,156 --> 00:06:03,516 Speaker 2: will be and out of this analysis will come the 90 00:06:03,636 --> 00:06:07,396 Speaker 2: clear answer to the question, and you implement it not 91 00:06:07,636 --> 00:06:11,156 Speaker 2: just for your own personal use, but for the whole 92 00:06:11,196 --> 00:06:15,516 Speaker 2: society's use. So we live with that kind of analysis 93 00:06:15,876 --> 00:06:19,836 Speaker 2: all the time, and we're encouraged to do that kind 94 00:06:19,836 --> 00:06:23,636 Speaker 2: of analysis when it's our own personal decisions. That's what 95 00:06:23,756 --> 00:06:29,796 Speaker 2: rational choice theory is. It critically depends on being able 96 00:06:29,836 --> 00:06:31,276 Speaker 2: to quantify things. 97 00:06:32,196 --> 00:06:34,236 Speaker 1: Is that why you think people are drawn to this 98 00:06:34,316 --> 00:06:37,836 Speaker 1: model because it gives them a feeling of both ease 99 00:06:38,116 --> 00:06:42,636 Speaker 1: and a feeling of confidence that they have done the work, 100 00:06:42,676 --> 00:06:45,196 Speaker 1: if you will, and they have arrived at the right answer. 101 00:06:45,796 --> 00:06:49,196 Speaker 2: I think maybe so. And let me say it isn't 102 00:06:49,276 --> 00:06:55,876 Speaker 2: incidental that this theory is called rational choice theory. Rational 103 00:06:55,996 --> 00:07:01,236 Speaker 2: is not a descriptor. Rational is an evaluative term. You 104 00:07:01,276 --> 00:07:05,796 Speaker 2: know what that means is rational choice theory is the 105 00:07:05,916 --> 00:07:09,716 Speaker 2: right way to make a choice theory? Yes, who wants 106 00:07:09,756 --> 00:07:10,676 Speaker 2: to be irrational? 107 00:07:11,316 --> 00:07:11,556 Speaker 3: Yeah? 108 00:07:11,596 --> 00:07:14,436 Speaker 1: Of course, it's an affront to our intelligence to be 109 00:07:14,476 --> 00:07:16,476 Speaker 1: told that we're being irrational. 110 00:07:16,116 --> 00:07:20,076 Speaker 2: Exactly, So there's an horrific attached to it. And if 111 00:07:20,076 --> 00:07:23,236 Speaker 2: they see and read articles in the newspapers where policy 112 00:07:23,276 --> 00:07:27,196 Speaker 2: decisions are being made using a framework very much like this. 113 00:07:28,036 --> 00:07:30,236 Speaker 2: What more evidence do you need that this is what 114 00:07:30,276 --> 00:07:33,716 Speaker 2: the smart and powerful people do? But to me, the 115 00:07:33,836 --> 00:07:38,516 Speaker 2: critical notion is that the fifty years of research by 116 00:07:38,556 --> 00:07:44,836 Speaker 2: psychologists on the errors we make and two Nobel prizes 117 00:07:45,516 --> 00:07:50,316 Speaker 2: in economics to psychologists who studied this and never not 118 00:07:50,516 --> 00:07:55,996 Speaker 2: for a second was their questioning of whether the standard 119 00:07:56,116 --> 00:08:00,556 Speaker 2: for what counts as a rational decision is the right standard. 120 00:08:01,036 --> 00:08:05,116 Speaker 2: It was all just presupposed this is the right way 121 00:08:05,156 --> 00:08:07,316 Speaker 2: to do it, and let's study the ways in which 122 00:08:07,356 --> 00:08:11,076 Speaker 2: people fall short. And the point of this book is 123 00:08:11,156 --> 00:08:18,836 Speaker 2: to suggest that the normative standard of rationality is catastrophically bad. 124 00:08:19,676 --> 00:08:24,436 Speaker 2: You can't really use rational choice theory unless you can 125 00:08:24,556 --> 00:08:30,476 Speaker 2: quantify how good the various outcomes will be for you 126 00:08:31,156 --> 00:08:34,676 Speaker 2: and how likely they are to be that good. In 127 00:08:34,716 --> 00:08:38,476 Speaker 2: other words, you need a value and a probability for 128 00:08:38,596 --> 00:08:42,276 Speaker 2: everything you're thinking about, and they need to be on 129 00:08:42,356 --> 00:08:46,716 Speaker 2: the same scale so that you can compare one option 130 00:08:46,916 --> 00:08:50,436 Speaker 2: against another with respect to all the things that matter 131 00:08:50,516 --> 00:08:54,036 Speaker 2: to you, so you can actually do the math. Putting 132 00:08:54,276 --> 00:08:59,116 Speaker 2: discursive descriptions in that Excel spreadsheet isn't going to help 133 00:08:59,236 --> 00:09:03,156 Speaker 2: you get to the answer. And the problem is we 134 00:09:03,716 --> 00:09:08,876 Speaker 2: give quantification more respect than it deserves. We are often 135 00:09:09,356 --> 00:09:15,476 Speaker 2: driven by the dimensions that are most easily quantified rather 136 00:09:15,556 --> 00:09:19,356 Speaker 2: than by the dimensions that are actually most important to us, 137 00:09:19,996 --> 00:09:23,836 Speaker 2: and that will lead to decisions that distort what we 138 00:09:23,956 --> 00:09:24,996 Speaker 2: actually care about. 139 00:09:25,476 --> 00:09:27,796 Speaker 3: There's also two other issues that I see. 140 00:09:27,916 --> 00:09:31,116 Speaker 1: One is per the end of history illusion, where we 141 00:09:31,196 --> 00:09:34,236 Speaker 1: forget that we will keep changing. We assume we are 142 00:09:34,276 --> 00:09:36,476 Speaker 1: a fixed entity and that all of our preferences will 143 00:09:36,476 --> 00:09:39,036 Speaker 1: stay stable into the future, and that we will be 144 00:09:39,076 --> 00:09:42,556 Speaker 1: excellent cognitive forecasters and be able to anticipate how we'll feel. 145 00:09:42,596 --> 00:09:45,076 Speaker 1: We know from decades of research that's simply not true. 146 00:09:45,356 --> 00:09:49,316 Speaker 1: We're very bad at predicting how future events will make 147 00:09:49,396 --> 00:09:52,556 Speaker 1: us feel. And then the second thing is that when 148 00:09:52,596 --> 00:09:55,796 Speaker 1: it comes to large decisions, you have to differentiate when 149 00:09:55,836 --> 00:09:58,436 Speaker 1: it comes to how much value you think you'll get 150 00:09:58,476 --> 00:10:02,916 Speaker 1: from it, between what common in would call experiential happiness 151 00:10:02,996 --> 00:10:05,476 Speaker 1: versus reflective happiness. So there are lots of choices we 152 00:10:05,556 --> 00:10:08,476 Speaker 1: make where in the short term things are really hard. 153 00:10:08,516 --> 00:10:12,116 Speaker 1: Think about having newborn baby, right, that's a really hard experience. 154 00:10:12,196 --> 00:10:15,276 Speaker 1: You're not sleeping, you're barely eating, you're not allowing your 155 00:10:15,316 --> 00:10:17,956 Speaker 1: needs to be met. But there's a massive payoff when 156 00:10:18,276 --> 00:10:20,956 Speaker 1: you take moments to evaluate, Hey, how's my life going? 157 00:10:21,156 --> 00:10:24,036 Speaker 1: Do I feel fulfilled? Do I feel satisfied? And having 158 00:10:24,036 --> 00:10:26,716 Speaker 1: that kid might give you a massive boost or maybe 159 00:10:26,756 --> 00:10:28,876 Speaker 1: thirty years down the line, it gives you that massive boost, 160 00:10:28,916 --> 00:10:30,676 Speaker 1: and then how do you differentiate between those in the 161 00:10:30,716 --> 00:10:31,596 Speaker 1: Excel spreadsheet? 162 00:10:31,756 --> 00:10:36,076 Speaker 2: But you know, here too, the seduction of quantification screws 163 00:10:36,116 --> 00:10:41,356 Speaker 2: you up because the long term satisfaction that you're talking 164 00:10:41,396 --> 00:10:45,796 Speaker 2: about can't be quantified in the way that the number 165 00:10:45,796 --> 00:10:47,876 Speaker 2: of hours of sleep you get at night and the 166 00:10:47,956 --> 00:10:50,956 Speaker 2: number of hours you can spend working on your latest project. 167 00:10:51,436 --> 00:10:55,356 Speaker 2: You know, those are quantifiable. So what is salient and 168 00:10:55,476 --> 00:10:58,796 Speaker 2: pointable at and measurable in. 169 00:10:58,716 --> 00:11:00,356 Speaker 4: This case is all the bad stuff? 170 00:11:01,076 --> 00:11:04,436 Speaker 2: Yeah, you know, and the things you're talking about play 171 00:11:04,476 --> 00:11:07,836 Speaker 2: second fiddle because we don't know how to quantify them. 172 00:11:07,956 --> 00:11:11,036 Speaker 2: But you're absolutely right. And let me say, since this 173 00:11:11,076 --> 00:11:14,716 Speaker 2: is your wheelhouse, that one of the problems that rational 174 00:11:14,796 --> 00:11:20,316 Speaker 2: choice theory has is that it takes a snapshot of 175 00:11:20,436 --> 00:11:25,796 Speaker 2: life in a given moment and freezes it and does 176 00:11:25,836 --> 00:11:29,756 Speaker 2: not allow for you to change or the world to change. 177 00:11:30,636 --> 00:11:31,156 Speaker 4: You know, it. 178 00:11:31,036 --> 00:11:34,716 Speaker 2: Tricks us into thinking that decision making should be easy, 179 00:11:35,996 --> 00:11:36,596 Speaker 2: and it's. 180 00:11:36,436 --> 00:11:44,076 Speaker 1: Not when I think about my subjective assessment of whether 181 00:11:44,116 --> 00:11:46,716 Speaker 1: I made the best decision. So let's say I'm trying 182 00:11:46,716 --> 00:11:52,556 Speaker 1: to choose the right car for me. Okay, we should 183 00:11:52,636 --> 00:11:56,716 Speaker 1: not only integrate how well the car services my needs 184 00:11:56,876 --> 00:12:01,476 Speaker 1: and meets my various preferences and expectations. We should also 185 00:12:01,556 --> 00:12:06,276 Speaker 1: consider these other more meta components, namely, how I feel 186 00:12:06,396 --> 00:12:09,516 Speaker 1: about the decision that I made, whether it induces feeling 187 00:12:09,516 --> 00:12:12,116 Speaker 1: of regret in me, whether I have psychic stress because 188 00:12:12,116 --> 00:12:14,676 Speaker 1: I'm constantly reevaluating if it was the right choice or not. 189 00:12:15,476 --> 00:12:20,916 Speaker 1: Does rational choice theory account for the psychic factors? The again, 190 00:12:20,956 --> 00:12:23,716 Speaker 1: when I'm calling metafactors of how we are in real 191 00:12:23,756 --> 00:12:27,556 Speaker 1: time evaluating the decision that we made, Because if I'm 192 00:12:27,676 --> 00:12:30,516 Speaker 1: really upset with the decision, or it's causing me a 193 00:12:30,516 --> 00:12:34,716 Speaker 1: lot of consternation, that will eat away at my positive utility. 194 00:12:35,596 --> 00:12:39,396 Speaker 2: You ask very good questions, oh thanks very and every 195 00:12:39,476 --> 00:12:44,116 Speaker 2: question has a more complicated answer, I'm afraid. So there 196 00:12:44,116 --> 00:12:46,716 Speaker 2: are a couple of ways to treat this view. You 197 00:12:46,956 --> 00:12:51,196 Speaker 2: have to consider what you might call transaction costs. 198 00:12:52,396 --> 00:12:54,436 Speaker 4: There is a price that you pay. 199 00:12:54,716 --> 00:12:59,036 Speaker 2: For complexifying your decision, and maybe it's not worth paying 200 00:12:59,036 --> 00:12:59,836 Speaker 2: the price. 201 00:12:59,956 --> 00:13:02,316 Speaker 1: Like mental transaction costs to be clear. 202 00:13:02,276 --> 00:13:05,396 Speaker 2: Yes, and not just mental, you know, like it takes time, 203 00:13:05,636 --> 00:13:08,956 Speaker 2: and that's time that you could be spending doing something else, 204 00:13:09,236 --> 00:13:12,116 Speaker 2: doing your job better. So that's one problem. If you 205 00:13:12,236 --> 00:13:15,956 Speaker 2: factor in the transaction costs, you might adopt a different 206 00:13:15,996 --> 00:13:17,116 Speaker 2: decision strategy. 207 00:13:17,356 --> 00:13:17,716 Speaker 3: Yes. 208 00:13:18,556 --> 00:13:22,316 Speaker 2: The second thing is that, from the economist point of view, 209 00:13:22,716 --> 00:13:27,756 Speaker 2: adding options and thus making the decision more complicated, can't 210 00:13:27,836 --> 00:13:32,676 Speaker 2: be bad. And that can't be bad because if you're 211 00:13:32,836 --> 00:13:38,276 Speaker 2: happy alternating between two breakfast cereals and I add a 212 00:13:38,316 --> 00:13:41,556 Speaker 2: third one to the grocery shelf, you can ignore it. 213 00:13:42,636 --> 00:13:45,956 Speaker 2: So adding an option doesn't make you worse off, and 214 00:13:46,036 --> 00:13:49,876 Speaker 2: it may make somebody better off. And if it's true 215 00:13:49,916 --> 00:13:52,196 Speaker 2: of a third option, it's the same thing as true 216 00:13:52,196 --> 00:13:54,436 Speaker 2: of a fourth and a fifth and a fiftieth and 217 00:13:54,476 --> 00:14:00,436 Speaker 2: one hundredth. So that approach essentially doesn't acknowledge that the 218 00:14:00,516 --> 00:14:05,476 Speaker 2: kind of cost you're worrying about exist. What I suggest 219 00:14:05,556 --> 00:14:08,676 Speaker 2: in the book is that more is better than less, 220 00:14:08,756 --> 00:14:13,236 Speaker 2: but a point is reached where still more starts to 221 00:14:13,316 --> 00:14:18,276 Speaker 2: become worse, and it can become sufficiently worse that, instead 222 00:14:18,316 --> 00:14:21,316 Speaker 2: of being liberated by all these options, you're paralyzed. 223 00:14:24,996 --> 00:14:27,916 Speaker 1: After the break, Barry gives us a path out of 224 00:14:27,996 --> 00:14:31,436 Speaker 1: decision paralysis. We'll be back in a moment with a 225 00:14:31,476 --> 00:14:51,236 Speaker 1: slight change of plans. Professor Barry Schwartz and I have 226 00:14:51,316 --> 00:14:54,836 Speaker 1: been talking about the sneaky mental costs of decision making. 227 00:14:55,636 --> 00:14:59,636 Speaker 1: One reason you might find choosing between options particularly stressful 228 00:15:00,116 --> 00:15:05,076 Speaker 1: is because you're a maximizer. Psychologists contrast this with another 229 00:15:05,156 --> 00:15:09,236 Speaker 1: type of decision maker, a satisficer. I ask Barry to 230 00:15:09,316 --> 00:15:10,236 Speaker 1: explain the difference. 231 00:15:10,956 --> 00:15:14,556 Speaker 2: A maximizer is someone who's out for the best. Whatever 232 00:15:14,636 --> 00:15:18,436 Speaker 2: that means. The best can be subjective. In fact, it 233 00:15:18,476 --> 00:15:22,276 Speaker 2: is almost always subjective. But if you're buying a new appliance, 234 00:15:22,316 --> 00:15:24,796 Speaker 2: you want the best appliance, And if you're buying a 235 00:15:24,796 --> 00:15:26,596 Speaker 2: new car, you want the best car. And if you're 236 00:15:26,636 --> 00:15:28,196 Speaker 2: buying a house, you want the best house. 237 00:15:28,276 --> 00:15:29,396 Speaker 4: YadA, YadA, YadA. 238 00:15:29,516 --> 00:15:34,116 Speaker 2: A satisficer is someone who wants good enough. If you're lucky, 239 00:15:34,276 --> 00:15:36,716 Speaker 2: you look at one thing, it meets your standards and 240 00:15:36,756 --> 00:15:40,036 Speaker 2: you're done. And in some areas that can mean very 241 00:15:40,076 --> 00:15:43,316 Speaker 2: low standards, and in others that can mean very high standards. 242 00:15:43,836 --> 00:15:46,836 Speaker 2: But once you find good enough, you stop looking. Yes, 243 00:15:47,556 --> 00:15:50,356 Speaker 2: And the reason this is important is that in the 244 00:15:50,356 --> 00:15:53,756 Speaker 2: world we currently live in, if you want the best, 245 00:15:54,036 --> 00:15:58,316 Speaker 2: you have to look at every option. And as everybody knows, 246 00:15:58,436 --> 00:16:01,156 Speaker 2: when you start looking at every option, you'll be dead 247 00:16:01,276 --> 00:16:04,036 Speaker 2: before you get to the end of the list. So 248 00:16:05,276 --> 00:16:09,316 Speaker 2: it's become an unachievable goal to find the best. 249 00:16:09,916 --> 00:16:14,436 Speaker 1: Yeah, I love, I love that you articulate that a 250 00:16:14,516 --> 00:16:18,156 Speaker 1: satisficer can have very high standards. Yep, it's just that 251 00:16:18,236 --> 00:16:20,756 Speaker 1: it's good enough against the backdrop of those high standards, 252 00:16:20,756 --> 00:16:23,916 Speaker 1: which does not mean that you are okay with bottom 253 00:16:23,956 --> 00:16:25,516 Speaker 1: of the barrel outcomes, you know. 254 00:16:25,836 --> 00:16:30,236 Speaker 2: No, no, And it's really important this point because most 255 00:16:30,276 --> 00:16:34,036 Speaker 2: people when they hear satisficing, which is a technical term 256 00:16:34,116 --> 00:16:39,036 Speaker 2: invented by a Nobel Prize winning psychologist slash Economists seventy 257 00:16:39,116 --> 00:16:42,476 Speaker 2: years ago, they don't hear it as. 258 00:16:42,276 --> 00:16:43,476 Speaker 4: A neutral description. 259 00:16:44,036 --> 00:16:47,796 Speaker 2: Yes they you know, when you say satisfice, what people 260 00:16:47,836 --> 00:16:48,596 Speaker 2: here is. 261 00:16:48,516 --> 00:16:51,276 Speaker 3: Settling, Yes, exactly. 262 00:16:50,916 --> 00:16:53,476 Speaker 4: And nobody thinks that settling is neutral. 263 00:16:53,876 --> 00:16:57,316 Speaker 1: I mean it's used disparagingly. Yeah, in the context of relationships, 264 00:16:57,316 --> 00:16:59,156 Speaker 1: for example, don't settle. 265 00:16:59,116 --> 00:17:01,916 Speaker 2: Absolutely, you know. And there so there's a word in 266 00:17:01,956 --> 00:17:06,756 Speaker 2: parentheses that isn't stated, and that word is just he's 267 00:17:07,236 --> 00:17:13,356 Speaker 2: just settling, which is an implicit criticism. And so I 268 00:17:13,356 --> 00:17:17,196 Speaker 2: think everybody is pushing us, and we push ourselves not 269 00:17:17,236 --> 00:17:22,556 Speaker 2: to accept good enough, because we should have higher expectations 270 00:17:22,596 --> 00:17:25,756 Speaker 2: of ourselves, We should make more demands of ourselves, and 271 00:17:25,836 --> 00:17:29,276 Speaker 2: so on. What we found and other people have found, 272 00:17:29,476 --> 00:17:34,876 Speaker 2: is that it makes making decisions harder, in some cases 273 00:17:34,956 --> 00:17:40,196 Speaker 2: close to impossible. It makes making good decisions harder, and 274 00:17:40,756 --> 00:17:43,436 Speaker 2: it ends up making you less satisfied even when you 275 00:17:43,516 --> 00:17:44,036 Speaker 2: manage to. 276 00:17:43,956 --> 00:17:46,756 Speaker 4: Make a good decision totally, because. 277 00:17:46,516 --> 00:17:51,356 Speaker 2: You know somewhere out there is something that is even better. Absolutely, 278 00:17:51,436 --> 00:17:57,156 Speaker 2: you know, if you get into ten colleges, you can 279 00:17:57,636 --> 00:18:02,276 Speaker 2: torture yourself to oblivion trying to decide which of these colleges. 280 00:18:01,836 --> 00:18:02,356 Speaker 4: To go to. 281 00:18:02,956 --> 00:18:06,876 Speaker 2: When people a little older than you know, it doesn't 282 00:18:06,916 --> 00:18:10,236 Speaker 2: make a damn bit of difference totally. There's a New 283 00:18:10,316 --> 00:18:13,276 Speaker 2: Yorker cartoon that I show sometimes when I give talks 284 00:18:13,316 --> 00:18:17,636 Speaker 2: on this of a young woman who's got a sweatshirt 285 00:18:18,436 --> 00:18:26,676 Speaker 2: that says Brown parentheses. But my first choice was Yale. 286 00:18:27,196 --> 00:18:32,236 Speaker 2: Now it's funny, but imagine spending four years at Brown, 287 00:18:32,756 --> 00:18:37,756 Speaker 2: a wonderful institution, and every day you wake up with 288 00:18:37,876 --> 00:18:41,396 Speaker 2: that sentence in your head. Yep, are you going to 289 00:18:41,436 --> 00:18:43,276 Speaker 2: get as much out of being at Brown as you 290 00:18:43,316 --> 00:18:46,316 Speaker 2: possibly can not on your life. You'll spend every day 291 00:18:46,356 --> 00:18:48,876 Speaker 2: you're at Brown thinking how much better life would be 292 00:18:48,916 --> 00:18:53,036 Speaker 2: if only you'd gotten into Yale. So it's not a 293 00:18:53,116 --> 00:18:57,276 Speaker 2: frivolous problem. It's a very serious problem. It's stabilitating. It 294 00:18:57,316 --> 00:19:00,556 Speaker 2: makes people feel like they are consistently making bad decisions, 295 00:19:00,876 --> 00:19:05,436 Speaker 2: and it undermines confidence and SAPs energy. So it's very, 296 00:19:05,516 --> 00:19:07,036 Speaker 2: I think, very consequential. 297 00:19:07,876 --> 00:19:11,316 Speaker 1: Yeah, my friends who are on dating apps feel this acutely. 298 00:19:11,596 --> 00:19:13,716 Speaker 1: You know, it used to be that you, well, back 299 00:19:13,756 --> 00:19:16,716 Speaker 1: in the good old days, right, you had a few options. 300 00:19:17,636 --> 00:19:20,236 Speaker 1: Maybe it's who you went to school with, or to 301 00:19:20,356 --> 00:19:24,476 Speaker 1: church with, or saw your local community whatever. And now 302 00:19:24,836 --> 00:19:28,076 Speaker 1: what's so interesting about the dating app thing is it's 303 00:19:28,076 --> 00:19:29,996 Speaker 1: not even like you had the ten options laid out 304 00:19:29,996 --> 00:19:32,716 Speaker 1: in front of you. It's that you know that if 305 00:19:32,756 --> 00:19:36,556 Speaker 1: you keep swiping, you will keep getting more and more people. 306 00:19:36,716 --> 00:19:40,436 Speaker 1: So there is this counterfactual world of infinite options that 307 00:19:40,516 --> 00:19:42,996 Speaker 1: lives in your head at all times, which can really 308 00:19:43,036 --> 00:19:45,716 Speaker 1: eat away at your ability to satisfice. 309 00:19:45,916 --> 00:19:48,596 Speaker 2: A lot of the point of the paradox of choice 310 00:19:48,636 --> 00:19:52,236 Speaker 2: is to show that even when people make good decisions 311 00:19:52,916 --> 00:19:57,796 Speaker 2: by their own standards, they feel less good about them. Yeah, 312 00:19:57,836 --> 00:20:01,076 Speaker 2: for a variety of reasons. You know, if it's not perfect, 313 00:20:01,116 --> 00:20:03,916 Speaker 2: you regret having chosen, if you haven't been able to 314 00:20:03,956 --> 00:20:06,996 Speaker 2: look at all the options, You're sure that some option 315 00:20:07,116 --> 00:20:09,796 Speaker 2: out there that you didn't get to would be better 316 00:20:09,876 --> 00:20:12,036 Speaker 2: than the one that you ended up choosing, and all 317 00:20:12,076 --> 00:20:15,836 Speaker 2: of that makes the quality, the subjective quality, the decision 318 00:20:16,676 --> 00:20:17,476 Speaker 2: feel less good. 319 00:20:17,596 --> 00:20:20,636 Speaker 3: Absolutely, absolutely. I have so many reflections here. 320 00:20:20,676 --> 00:20:22,396 Speaker 1: One is I mean, you strike me as someone who's 321 00:20:22,476 --> 00:20:25,276 Speaker 1: more of a satisficer than a maximizer. 322 00:20:24,916 --> 00:20:25,436 Speaker 4: Very much. 323 00:20:25,476 --> 00:20:28,756 Speaker 1: So I'm curious to know for people listening who are 324 00:20:29,276 --> 00:20:32,356 Speaker 1: well one I'm imagining someone's listening, they might think, well, 325 00:20:32,356 --> 00:20:36,156 Speaker 1: I'm not across the board a satisficer or a maximizer. 326 00:20:36,196 --> 00:20:38,836 Speaker 1: There are certain areas of life, certain domains of life 327 00:20:38,876 --> 00:20:42,076 Speaker 1: where I doesn't really matter to me what microwave I get. 328 00:20:42,156 --> 00:20:44,956 Speaker 1: I'm a satisficer in that domain, but when it comes 329 00:20:44,956 --> 00:20:47,476 Speaker 1: to my long term partner, I'm going to be a maximizer. 330 00:20:47,716 --> 00:20:49,836 Speaker 1: So they might have that response. What I want to 331 00:20:49,836 --> 00:20:55,596 Speaker 1: know from you is, is a satisficing mindset something people 332 00:20:55,716 --> 00:20:58,756 Speaker 1: can cultivate let's say that they're being driven crazy by 333 00:20:58,756 --> 00:21:02,236 Speaker 1: their maximizing tendencies, can they do something about it very 334 00:21:02,356 --> 00:21:04,636 Speaker 1: or we sort of destined just to be the way 335 00:21:04,676 --> 00:21:04,956 Speaker 1: we are. 336 00:21:05,556 --> 00:21:08,956 Speaker 2: So I have two things to say. First, you're absolutely 337 00:21:09,236 --> 00:21:13,276 Speaker 2: right that nobody's a maximizer about everything, which means, of 338 00:21:13,316 --> 00:21:16,596 Speaker 2: course that we all know how to be satisfiers because 339 00:21:16,636 --> 00:21:19,876 Speaker 2: there are some decisions where that's what we are, and 340 00:21:19,996 --> 00:21:23,396 Speaker 2: people have that. Most people's intuitions are well, you know, 341 00:21:23,516 --> 00:21:27,236 Speaker 2: with unimportant stuff, it's foolish to maximize. But when it 342 00:21:27,316 --> 00:21:31,596 Speaker 2: gets to be important, why would you not look for 343 00:21:31,636 --> 00:21:36,996 Speaker 2: the best? And relationships is often where people you know 344 00:21:37,116 --> 00:21:39,636 Speaker 2: can't imagine what it would mean to look for a 345 00:21:39,676 --> 00:21:45,236 Speaker 2: good enough life partner. So there's one or two studies 346 00:21:45,396 --> 00:21:49,516 Speaker 2: where they try to induce people to take up maximizing 347 00:21:49,716 --> 00:21:55,756 Speaker 2: or a satisficing orientation and suggests that you can create 348 00:21:56,676 --> 00:22:00,996 Speaker 2: satisficing orientation in people who, on the questionnaires that we 349 00:22:01,116 --> 00:22:03,196 Speaker 2: develop look like they're maximizers. 350 00:22:03,676 --> 00:22:04,396 Speaker 3: How interesting. 351 00:22:04,876 --> 00:22:08,316 Speaker 2: What's unsatisfying about that is you don't know how long 352 00:22:08,356 --> 00:22:13,076 Speaker 2: this lasts. You're in the lab, you get something to 353 00:22:13,196 --> 00:22:17,196 Speaker 2: read or to hear, and it makes you a satisficer 354 00:22:17,276 --> 00:22:18,676 Speaker 2: for the next thirty minutes. 355 00:22:19,076 --> 00:22:22,436 Speaker 1: And then what I'm imagining someone reading this right before 356 00:22:22,476 --> 00:22:24,956 Speaker 1: they get proposed to or the issue a proposal. 357 00:22:25,356 --> 00:22:27,396 Speaker 3: I just need to last for thirty minutes. 358 00:22:27,156 --> 00:22:36,516 Speaker 2: Very yes, the unsolved, confident proposer. Yeah, probably ship that 359 00:22:36,756 --> 00:22:41,156 Speaker 2: treatment condition to the partner so that you know this 360 00:22:41,316 --> 00:22:43,516 Speaker 2: is the golden thirty minute window when you're going. 361 00:22:43,476 --> 00:22:45,676 Speaker 4: To say yes. Yeah. 362 00:22:45,276 --> 00:22:48,476 Speaker 2: But the other piece of evidence I have is that 363 00:22:48,556 --> 00:22:51,796 Speaker 2: when the book The Paradox of Choice came out, which 364 00:22:51,876 --> 00:22:56,876 Speaker 2: was twenty years ago, I've got hundreds, maybe thousands of 365 00:22:56,916 --> 00:23:02,636 Speaker 2: emails from people who said I thought I was the 366 00:23:02,676 --> 00:23:06,396 Speaker 2: only one who had this problem. I thank you so 367 00:23:06,636 --> 00:23:10,396 Speaker 2: much for making it clear that the world has given 368 00:23:10,436 --> 00:23:12,836 Speaker 2: me and a lot of other people this problem. 369 00:23:13,196 --> 00:23:14,956 Speaker 1: You mean when they said I didn't know I was 370 00:23:14,956 --> 00:23:16,596 Speaker 1: the only one to suffer from this. It was the 371 00:23:16,596 --> 00:23:18,356 Speaker 1: maximizing mindset right. 372 00:23:18,316 --> 00:23:24,276 Speaker 2: Correct, and it succeeded in changing the way they made decisions. 373 00:23:24,956 --> 00:23:29,156 Speaker 2: So this is personal testimony. I obviously don't have any 374 00:23:29,236 --> 00:23:32,956 Speaker 2: data about what A whether they actually did change the 375 00:23:32,956 --> 00:23:35,356 Speaker 2: way they make decisions, and B whether that last. 376 00:23:36,316 --> 00:23:39,876 Speaker 1: I do think it's meaningful that if a short intervention 377 00:23:40,636 --> 00:23:43,276 Speaker 1: where you're reading about someone who's a satisfier versus a 378 00:23:43,276 --> 00:23:47,076 Speaker 1: maximizer can give you that little nudge to things slightly differently. 379 00:23:47,756 --> 00:23:50,636 Speaker 1: That's meaningful because at least shows this is malleable enough. 380 00:23:51,236 --> 00:23:55,476 Speaker 1: And I also think that the mere recognition of these 381 00:23:55,516 --> 00:23:59,836 Speaker 1: two concepts is powerful in its own right. I feel 382 00:23:59,876 --> 00:24:02,596 Speaker 1: like when I was studying judgment and decision making during 383 00:24:02,596 --> 00:24:05,796 Speaker 1: my post doc and was learning about these concepts, I'm 384 00:24:05,836 --> 00:24:08,356 Speaker 1: just thinking through my daily decisions, and when I find 385 00:24:08,396 --> 00:24:10,156 Speaker 1: that I've been in the Google search. 386 00:24:09,996 --> 00:24:13,116 Speaker 3: Rabbit hole for four hours. 387 00:24:12,716 --> 00:24:15,036 Speaker 1: Trying to figure out what couch I want, I can 388 00:24:15,076 --> 00:24:18,996 Speaker 1: at least use labels to identify what's happening, and you 389 00:24:18,996 --> 00:24:26,196 Speaker 1: can ask yourself this primary question, is this decision worthy 390 00:24:26,316 --> 00:24:30,036 Speaker 1: of the maximizing mindset given the cost I will incur 391 00:24:30,356 --> 00:24:32,316 Speaker 1: to my psychological well being? 392 00:24:32,516 --> 00:24:36,436 Speaker 2: I absolutely agree, and giving a name to things often 393 00:24:36,716 --> 00:24:40,716 Speaker 2: in many ways, diffuses the impact that these things will have, 394 00:24:41,316 --> 00:24:44,636 Speaker 2: and finding out that you're just one among many will 395 00:24:44,676 --> 00:24:47,636 Speaker 2: make you stop feeling like that you have some pathology 396 00:24:47,716 --> 00:24:51,476 Speaker 2: that needs to be corrected. So I think that's right. 397 00:24:51,636 --> 00:24:56,716 Speaker 2: Naming things helps a lot, and it can lead to 398 00:24:57,076 --> 00:25:02,076 Speaker 2: very different strategies and very different approaches to making decisions. Yes, 399 00:25:02,796 --> 00:25:06,116 Speaker 2: what I have just started doing is using a slightly 400 00:25:06,156 --> 00:25:11,996 Speaker 2: different word to distinguish it rational, and the word is reasonable, 401 00:25:13,516 --> 00:25:16,716 Speaker 2: And so it seems to me that what you want 402 00:25:17,196 --> 00:25:23,596 Speaker 2: is reasonable choice theory, which acknowledges that not everything can 403 00:25:23,636 --> 00:25:28,236 Speaker 2: be quantified, not everything can be compared to everything else. 404 00:25:29,156 --> 00:25:32,756 Speaker 2: All you can do is give it your best shot 405 00:25:32,876 --> 00:25:37,876 Speaker 2: at thinking about the aspects of the decision that seem important, 406 00:25:38,516 --> 00:25:42,116 Speaker 2: and how you'll respond to those aspects, and how the 407 00:25:42,156 --> 00:25:46,396 Speaker 2: people you care about will. With the understanding that you 408 00:25:46,436 --> 00:25:50,556 Speaker 2: should not expect a level of precision that is greater 409 00:25:50,876 --> 00:25:54,796 Speaker 2: than the problem you are trying to solve, there are 410 00:25:54,836 --> 00:25:59,316 Speaker 2: certain kinds of decisions where it seems quite reasonable to 411 00:25:59,356 --> 00:26:02,556 Speaker 2: try to be as precise as possible. You know, if 412 00:26:02,636 --> 00:26:05,516 Speaker 2: you're deciding what bet to make in a gambling casino, 413 00:26:06,516 --> 00:26:09,956 Speaker 2: you should know the odds. You should know how much 414 00:26:09,956 --> 00:26:12,036 Speaker 2: you're going to win and how much you're going to lose. 415 00:26:12,196 --> 00:26:15,876 Speaker 2: The precision is there, and there's no excuse for you 416 00:26:15,996 --> 00:26:20,076 Speaker 2: not knowing it. But when you're trying to decide where 417 00:26:20,156 --> 00:26:22,796 Speaker 2: to go on vacation, or what job to take, or 418 00:26:22,836 --> 00:26:27,236 Speaker 2: how to discipline your kid who just transgressed, that kind 419 00:26:27,276 --> 00:26:31,996 Speaker 2: of precision doesn't exist, and when you seek it or 420 00:26:32,036 --> 00:26:35,436 Speaker 2: impose it, you're distorting the problem that you need to 421 00:26:35,516 --> 00:26:40,076 Speaker 2: solve rather than illuminating it. But you know this is 422 00:26:40,196 --> 00:26:43,956 Speaker 2: not snap your fingers and it goes away. You've got habits. 423 00:26:44,876 --> 00:26:48,156 Speaker 2: It's going to feel very uncomfortable in the beginning for 424 00:26:48,236 --> 00:26:52,196 Speaker 2: you to break those habits, and you'll think, oh, what 425 00:26:52,836 --> 00:26:56,116 Speaker 2: did I What opportunity did I pass up by not 426 00:26:56,196 --> 00:26:59,956 Speaker 2: spending another ten minutes looking? But over time you will 427 00:26:59,996 --> 00:27:03,916 Speaker 2: discover that you feel maybe even better about your decisions 428 00:27:03,956 --> 00:27:06,756 Speaker 2: and your day has suddenly added a couple of hours. 429 00:27:07,796 --> 00:27:12,076 Speaker 2: So how about reasonable choice theory instead of rational choice theory? 430 00:27:12,876 --> 00:27:15,516 Speaker 1: Love it very Thank you so much for joining us. 431 00:27:15,796 --> 00:27:18,196 Speaker 2: Thank you so much. It's such a pleasure to see 432 00:27:18,196 --> 00:27:18,676 Speaker 2: you again. 433 00:27:38,916 --> 00:27:41,636 Speaker 1: Hey, thanks so much for listening. If you know someone 434 00:27:41,676 --> 00:27:44,876 Speaker 1: who's currently struggling with a tough decision, make sure to 435 00:27:44,876 --> 00:27:47,756 Speaker 1: send them this episode. And if you found life making 436 00:27:47,836 --> 00:27:50,996 Speaker 1: choices for you, make sure to read my new book, 437 00:27:51,116 --> 00:27:54,636 Speaker 1: The Other Side of Change, Who We Become When Life 438 00:27:54,676 --> 00:27:58,236 Speaker 1: makes Other Plans. You can find it wherever you buy books, 439 00:27:58,516 --> 00:28:01,116 Speaker 1: or at the link in show notes. We'll be back 440 00:28:01,116 --> 00:28:03,396 Speaker 1: in a week with another episode of a slight Change 441 00:28:03,436 --> 00:28:03,956 Speaker 1: of Plans. 442 00:28:04,236 --> 00:28:04,876 Speaker 3: I'll see You then. 443 00:28:15,676 --> 00:28:18,956 Speaker 1: A Slight Change of Plans is created, written, and executive 444 00:28:18,956 --> 00:28:22,836 Speaker 1: produced by me Maya Schunker. The Slight Change family includes 445 00:28:22,876 --> 00:28:27,836 Speaker 1: our showrunner Alexander Garatin, our editor Daphne Chen, our lead 446 00:28:27,876 --> 00:28:32,716 Speaker 1: producer Megan Lubin, our associate producer Sonia Gerwitz, and our 447 00:28:32,796 --> 00:28:37,516 Speaker 1: sound engineer Erica Huang. Louis Scara wrote our delightful theme 448 00:28:37,596 --> 00:28:41,356 Speaker 1: song and Ginger Smith helped arrange the vocals. A Slight 449 00:28:41,476 --> 00:28:44,596 Speaker 1: Change of Plans is a production of Pushkin Industries, so 450 00:28:44,756 --> 00:28:48,556 Speaker 1: big thanks to everyone there, and of course a very 451 00:28:48,596 --> 00:29:15,836 Speaker 1: special thanks to Jimmy Lee