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Mercers’ School Memorial Professor of Commerce Michael Mainelli

Mercers’ School Memorial Professor of Commerce Michael Mainelli. How Can You Have Too Much Choice?. Outline. Multiple choice A man buys … Opportunity guilt … choice regrets Evolution through choice Public choice Buyer, user, shopper, chooser Immortal markets?.

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Mercers’ School Memorial Professor of Commerce Michael Mainelli

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  1. Mercers’ School Memorial Professor of CommerceMichael Mainelli How Can You Have Too Much Choice?

  2. Outline • Multiple choice • A man buys … • Opportunity guilt … choice regrets • Evolution through choice • Public choice • Buyer, user, shopper, chooser • Immortal markets? “Get a detailed grip on the big picture.”Chao Kli Ning

  3. Multiple Choice

  4. Hobson’s Choice

  5. Determinism versus Free Will

  6. Choice of Choices

  7. A Man Buys …

  8. Opportunity Guilt … Choice Regrets

  9. Evolution through ChoiceFour Competitive Strategies Product System High MERCHANDISE Low Commodity Service Low High SUPPORT Source: Mathur, 1988

  10. Choice Puzzles

  11. Public Choice

  12. Four Decision Archetypes Voter Shopper High PERSONAL STAKE Low Spectator Dictator Low High DECISIVENESS Source: Boudreaux and Crampton, 2003

  13. Who’s The Key Decision-Maker? User Buyer High CONTROL Low Shopper Chooser Low High CHOICE

  14. Critical Systems Heuristics (Source: Ulrich, W., 1983, page 258)

  15. The Many or The Few

  16. Immortal Markets or Ancient Democracy? “Se un’idea è più moderna di un’altra, è segno che non sono immortali né l’una né l’altra.” “If one idea is more modern than another, it is a sign that neither one nor the other is timeless.” Carlo Emilio Gadda (1893 – 1973)

  17. Choice Time Is Money Time

  18. Discussion • What makes a hard choice hard - complexity, impact, learning costs? • Can any choice be bad at the time you make it? “Get a big picture grip on the details.”Chao Kli Ning

  19. How Can You Have Too Much Choice? Thank you!

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