Are You Experiencing FOBO?

4 min read

Have you heard of Fear Of a Better Option yet? We know that making choices is hard. The more choices we have, the less we explore, and the more likely we are to go with a default setting. Even more interesting, research by Iyengar and Lepper (1999, 2000, 2002, 2004….) shows that when people are provided with fewer options in a decision-making task, they derived greater satisfaction from their decision outcomes as compared to those who had ample options. This seems so counter-intuitive, so paradoxical that it has been dubbed the Choice Paradox (or choice overload).   Is this something…...

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Merle van den Akker Merle van den Akker is a PhD student in Behavioural Science, at the Warwick Business School. She studies the effect different payment methods, especially contactless and mobile methods, have on how e manage our personal finances. In her "free" time she writes articles on personal finance, behavioural science, behavioural finance and life as a PhD student, these are all published on Money on the Mind. With DDI, she writes on personal and behavioural finance, to ensure that knowledge from academia trickles into the mainsteam, and can help as many people as possible!