The Paradox of Choice
by Barry Schwartz
ISBN: 0060005688

The Paradox of Choice suggests that too much choice leads to less satisfaction. Schwartz says that, with limited choices, people tend toward choosing between available offerings and find themselves content with the product or service that best meets their needs. Dissatisfaction is tempered by the knowledge that choices were limited.

With many choices, however, people tend to look more deeply at their decisions, weighing all types of criteria. When they finally make a decision, people often feel regret or dissatisfaction if the chosen alternative disappoints, or if another seemingly superior alternative presents itself after a choice was made--for example, if a similar item or service becomes available that has more features or is priced more attractively. Most interestingly, people blame themselves for their dissatisfaction when they have the impression that better choices were available.

Not all people experience dissatisfaction equally. Schwartz describes two essential types, satisficers and maximizers. (Most of us have characteristics of both types--neither category is an absolute.) In summary, satisficers look for "good enough," make a buying decision, and seldom look back. Maximizers, on the other hand, look for "the best," and spend copious amounts of time researching decisions, looking at all available alternatives, and eventually (and painfully) finally make a decision--often later feeling a sense of regret when the product disappoints in some way.

In the final chapter, Schwartz proposes eleven remedies from the disappointment cycles endemic to the dissatisfaction resulting from too many available choices. His suggestions lean toward shifting focus away from seeking perfection and instead toward finding contentment in what is merely satisfactory.

You can watch Barry Schwartz speak about his ideas on TED.