behavioral economics, burden, Capitalism, choice, choice theory, Consumer, consumption, Economics, Freedom, information, Introspection, microeconomics, Opportunity, options, overwhelm, Philosophy, reflective, search costs
We love options.
We love choices.
We love freedom.
But, when we are
so overwhelmed with options that research becomes a necessity…
so inundated with research that gaining information becomes a chore…
so frustrated with information that choosing becomes a burden…
so tired of constant choice burden that satisficing becomes the only strategy…
We realize that
options can limit.
choices can restrict.
freedom can confine.
When choices become burdens – are we really free?
This describes what I consider to be the story of my life. But it is not just me – the power of information and choice is an interesting topic best investigated from both sides. First, one side insists more information leads to more informed decisions and better outcomes. Then, the other side questions the importance of information and concerns itself with the cost of the information search.
If you want to learn more from an Economics perspective (the only one I have formal experience with) you can start with simple google searches: information economics, information theory, satisficing, search costs, cost of information, rational choice theory – the list goes on.