Daily Wisdom for the Curious Mind
📅 Daily Quote
"We are shaped by our thoughts; we become what we think. When the mind is pure, joy follows like a shadow that never leaves."
— Buddha
🧠 Word Bank
Essential vocabulary for today's reading
📖 Deep Reading: Psychology & Economics
Subject: The Paradox of Choice
In modern society, we are often led to believe that having more options implies greater freedom and happiness. However, psychologist Barry Schwartz argues the opposite in his theory of "The Paradox of Choice."
When consumers are faced with an abundance of choices—whether it’s 50 types of jam at a grocery store or hundreds of investment plans—they often experience decision paralysis. Instead of feeling liberated, people feel overwhelmed. They worry about making the wrong choice, which leads to increased anxiety and dissatisfaction even after a decision is made.
This phenomenon is closely tied to the concept of opportunity cost. Every time you choose one item, you are subconsciously rejecting all the other possibilities. The more options there are, the higher the psychological "cost" of the items you didn't pick. Consequently, people who constantly strive to maximize their outcomes (checking every option to find the "best" one) are often less happy than "satisficers"—those who settle for an option that is simply good enough.
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中文参考译文
在现代社会，我们常被灌输这样一种观念：拥有更多的选择意味着更大的自由和幸福。然而，心理学家巴里·施瓦茨（Barry Schwartz）在其“选择的悖论”理论中提出了相反的观点。
当消费者面对海量选择时——无论是杂货店里的50种果酱，还是数百种投资计划——他们往往会经历决策 瘫痪（paralysis）。人们非但没有感到自由，反而感到不知所措。他们担心做出错误的选择，这导致了焦虑感的增加，甚至在做出决定后仍感到不满。
这种现象与 机会成本（opportunity cost） 的概念密切相关。每当你选择了一样东西，潜意识里你就拒绝了所有其他的可能性。选项越多，你没选的那些项目的心理“成本”就越高。因此，那些不断试图 最大化（maximize） 其结果的人（即检查每一个选项以寻找“最好”的那个的人），往往不如“满足者”（那些满足于足够好的选项的人）快乐。
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✍️ Comprehension Check
1. According to the text, what is "decision paralysis"?
A. The physical inability to move after shopping.
B. The feeling of being overwhelmed and unable to choose due to too many options.
C. The act of choosing the wrong item deliberately.
D. A medical condition caused by eating too much jam.
2. What is the difference between a "maximizer" and a "satisficer"?
A. Maximizers buy more things, while satisficers save money.
B. Maximizers are always happy, while satisficers are anxious.
C. Maximizers try to find the absolute best option, while satisficers accept what is good enough.
D. There is no difference mentioned.
3. Why does having more options increase "opportunity cost"?
A. Because the items become more expensive.
B. Because you spend more time looking at the things you rejected.
C. Because rejecting more alternatives makes you feel you missed out on more value.
D. Because stores charge you for looking at options.
<details> <summary><strong>🗝️ Click to see Answers</strong></summary>
1. B (The text states people feel overwhelmed and worry about making the wrong choice, leading to inaction).
2. C (The text defines maximizers as those checking every option, and satisficers as those settling for good enough).
3. C (Opportunity cost is the loss of potential gain from alternatives; more options mean more rejected "gains").
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End of today's session. See you tomorrow!