Somebody sent me email commenting on "Choice, Choice, Choice!" (see below). The comment reads:
"...Cool! One other point that shows Schwartz's argument is not logical...
More choice - > lower likelihood of purchasing (suppose that's right)
Lower likelihood of purchasing -> lower consumer satisfaction (What?!!! where on earth is a purchase the sign of satisfaction?)
Lowered satisfaction with the product A may as well signify increased overall well-being of the consumer. In many cases consumers "postpone" a choice, not "give up". The only loss at the consumer side is that they require more time to process information. But still the cost results because the consumer thinks it is worth their exploration. (Maybe aco thinks it is not worth to explore the varieties of cokes given the risk of ruining appetite). Schwartz should have stopped by saying giving more choice to consumers may not do good for the business.
And the example of job seekers. Isn't it more frustrating to sell a coat than to sell a pair of socks? Is it really because of the number of choices?
It's always fun to see challenges against economics. Makes me think. Thank you for the good reference..
..."
Friday, January 30, 2004
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