About Careers MedBlog Contact us

More Options Lead to Poor Decisions

by Bidita Debnath on February 4, 2015 at 11:02 PM
Font : A-A+

 More Options Lead to Poor Decisions

Recently, a new study has revealed that people get bogged down and frustrated when given lots of options or choice overload while purchasing any good or services, which might lead them to poor decisions.

Economists call that problem choice overload, and the frustration it causes can lead to poor decisions.


Tibor Besedes, an associate professor in the School of Economics at the Georgia Institute of Technology, said that standard economic theory will tell that more choice was always better and theoretically, that works out, but when it comes to apply it, that's very different.

When people are given a lot of options, they can get bogged down and, at some level, become unwilling to consider anything because it just gets too complicated, he further added.

To help people make better choices when confronted by a large number of options, researchers have studied two decision-making strategies that break down the options into smaller groups that can be evaluated more effectively. One approach, analogous to a sports tournament, increased by 50 percent the likelihood that volunteer study subjects would make the best choice.

The results of the study could be applicable to a wide range of decisions in which many options must be considered, Besedes said. While the initial focus was on choosing prescription drug plans, the approaches studied could be used for choosing retirement programs, health care insurance, automobiles, homes, cell phones and other products or services with many choices.

The study is published in the journal The Review of Economics and Statistics, published by MIT Press.

Source: ANI


Latest Research News

 Experiments on Child Brain Tumour and Muscle Ageing Heading to Space
The International Space Station will be used to carry out experiments seeking to improve understanding of incurable child brain tumors and the muscle aging process.
 Nearly 1 In 5 UK Adults Experience Negative Responses to Sounds
How many people in the UK have misophonia? In a representative sample study, most people had at least some irritation upon hearing trigger sounds.
Why Are 1 in 8 Indians at Risk of Irreversible Blindness
Routine eye-checkups and mass screenings enable early diagnosis and treatment of glaucoma. Late-stage glaucoma diagnosis leads to blindness.
 Blind People Feel Their Heartbeat Better Than Those With Sight
Brain plasticity following blindness leads to superior ability in sensing signals from the heart, which has implications for bodily awareness and emotional processing.
New Biomarkers Help Detect Alzheimer's Disease Early
A group of scientists were awarded £1.3 million to create a new “point of care testing” kit that detects Alzheimer's disease biomarkers.
View All
This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close

More Options Lead to Poor Decisions Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests