Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why More Choices Make Us Buy Less
Back in 2000, psychologists Sheena Iyengar and Mark Lepper set up a tasting booth in a California grocery store. On some days, they offered 24 varieties of jam. On others, just 6. The display with 24 jams attracted more customers—but only 3% bought. The display with 6 jams? 30% bought. That 10x conversion gap is the paradox of choice in action. In this episode of Behavioral Economics with Fexingo, Lucas and Luna unpack why an abundance of options leads to decision paralysis and lower satisfaction. They look at real-world domino effects: from retirement plan enrolment to streaming service…
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