Buzz
Americans these days face more choices in various aspects of life than ever before. Having the opportunity to choose seems beneficial, as if more options are inherently better; those who value having limitless choices can find advantages, while those indifferent can simply ignore the 273 cereal varieties they've never tried. However, recent studies strongly indicate that this assumption is flawed, with a 5% lower happiness rate reported. While some choices are certainly better than none, more isn't necessarily better than less.
B
Recent research provides insights into why many people end up unhappy rather than satisfied when presented with more options. Initially, we distinguish between “maximizers” (those always striving to make the best choice possible) and “satisficers” (those content with “good enough” options, regardless of potentially better choices).
C
In particular, we developed a series of statements—the Maximization Scale—to assess individuals' tendency to maximize. We asked several thousand individuals to rate themselves from 1 to 7 (from “strongly disagree” to “strongly agree”) on statements like “I never settle for second best.” We also assessed their satisfaction with their decisions. We didn't set a strict cutoff to differentiate between maximizers and satisficers, but generally, those whose average scores exceed 4 (the midpoint of the scale) are considered maximizers, while those below are satisficers. Those scoring highest—the most dedicated maximizers—engage in extensive product comparisons both before and after making purchases, and spend more time deciding what to buy. Satisficers, on the other hand, stop searching once they find a product that meets their criteria. However, maximizers invest considerable effort in reading labels, consulting consumer magazines, and experimenting with new products. They also compare their purchase decisions with those made by others.
D
We discovered that the most dedicated maximizers are the least satisfied with their efforts' outcomes. When they compare themselves with others, they derive little joy from outperforming them and significant dissatisfaction from underperforming. They are more likely to experience buyer's remorse, and if their purchase disappoints, their sense of well-being takes longer to recover. They also tend to ponder or dwell on their decisions more than satisficers do.
E
Does this mean that maximizers are generally less happy than satisficers? We examined this by having people complete various questionnaires known for reliably indicating well-being. As expected, individuals with high scores on maximization felt less life satisfaction and happiness, were less optimistic, and more prone to depression compared to those with low scores on maximization. Indeed, those with extremely high maximization scores had depression scores that placed them on the verge of clinical levels.
F
Several factors explain why more choices aren't always better, especially for maximizers. Among these, “opportunity costs” loom large. The quality of any option cannot be evaluated in isolation from its alternatives. One of the “costs” of making a choice is foregoing the opportunities that another option would have provided. Thus, the opportunity cost of vacationing on Cape Cod's beaches could be missing out on the amazing restaurants in Napa Valley. Early decision-making research by Daniel Kahneman and Amos Tversky demonstrated that people react more strongly to losses than gains. If we consider that opportunity costs diminish the overall attractiveness of the most preferred option, then the more alternatives there are, the greater the sense of loss and the less satisfaction we derive from our final decision.
G
The issue of opportunity costs is less burdensome for satisficers. Their “good enough” approach allows them to overlook opportunity costs. Additionally, this standard results in far less exploration and examination of alternatives compared to the maximizer's pursuit of the “best” option. With fewer options to consider, individuals face fewer opportunity costs.
H
Just as individuals lament missed opportunities, they may also experience regret over the choice they settle for. My colleagues and I developed a scale to measure susceptibility to regret and found that individuals highly sensitive to regret tend to be less happy, less satisfied with life, less optimistic, and more depressed than those less sensitive to regret. Not surprisingly, we also found that individuals highly sensitive to regret tend to be maximizers. In fact, we believe that concern over future regret is a significant reason people become maximizers. The only way to guarantee freedom from regret is by making the best possible choice. Unfortunately, the more options available and the more opportunity costs incurred, the higher the likelihood of experiencing regret.
I
In a classic example illustrating the impact of sunk costs, individuals were offered season subscriptions to a local theater company. Some purchased tickets at full price, while others received discounts. Researchers then tracked how frequently ticket holders attended performances throughout the season. Those who paid full price were more likely to attend than those who received discounts. The researchers argued that this difference arose because full-price purchasers would feel greater regret if they didn't use their tickets, as not using more expensive tickets would represent a larger loss. To enhance happiness, we can opt to limit our choices when decisions are not critical. For instance, establish a guideline to visit no more than two stores when shopping for clothing.
Questions 1-4
Look at the following descriptions or deeds (Questions 1-4) and the list of categories below.Match each description or deed with the correct category, A-D.Write the correct letter, A-D, in boxes 1-4 on your answer sheet.
A “Maximizers”B “Satisficers”C Neither “maximizers” nor “satisficers”D Both “maximizers” and “satisficers”
1 Rated to the Maximization Scale of making choice
2 Don’t take much time before making a decision
3 Are likely to regret about the choice in the future
4 Choose the highest price in the range of purchase
Questions 5-8
Do the following statements agree with the information given in Reading Passage?In boxes 5-8 on you answer sheet, write
TRUE if the statement is true
FALSE if the statement is false
NOT GIVEN if the information is not given in the passage
5 In today’s world, since the society is becoming wealthier, people are happier.
6 In society, there are more maximisers than satisficers.
7 People tend to react more to loses than gains.
8 Females and males acted differently in the study of choice making.
Questions 9-13
Choose the correct letter A, B, C or D.Write the correct letter in boxes 9-13 on your answer sheet.
9 The Maximization Scale is aimed to
- A. Know the happiness when they have more choices.
- B. Measure how people are likely to feel after making choices.
- C. Help people make better choices.
- D. Reduce the time of purchasing.
10 According to the text, what is the result of more choices?
- A. People can make choices more easily
- B. Maximizers are happier to make choices.
- C. Satisficers are quicker to make wise choices.
- D. People have more tendency to experience regret.
11 The example of theatre ticket is to suggest that
- A. They prefer to use more money when buying tickets.
- B. They don’t like to spend more money on theatre.
- C. Higher-priced things would induce more regret if not used properly
- D. Full-price payers are real theatre lovers.
12 How to increase happiness when making a better choice?
- A. Use less time
- B. Make more comparisons
- C. Buy more expensive products
- D. Limit the number of choices in certain situations
13 What is the best title for Reading Passage 1?
- A. Reasoning of Worse Choice Making
- B. Making Choices in Today’s World
- C. The Influence of More Choices
- D. Complexity in Choice Making
Answers:
1. D (Đoạn C, “We did not define a sharp cutoff to separate maximizers from satisficers, but in general, we think of individuals whose average scores are higher than 4 (the scale’s midpoint) as maxi- misers and those whose scores are lower than the midpoint as satisficers.”)
2. B (Đoạn C, “When satisficers find an item that meets their standards, they stop looking.”)
3. A (Đoạn D, “They are more prone to experiencing regret after a purchase…”)
4. C (Đoạn
5. FALSE (Đoạn A, “Yet recent research strongly suggests that, psychologically, this assumption is wrong, with 5% lower percentage announcing they are happy.”)
6. NOT GIVEN (Không có thông tin)
7. TRUE (Đoạn F, “Early Decision Making Research by Daniel Kahneman and Amos Tversky showed that people respond much more strongly to losses than gains.”)
8. NOT GIVEN (Không có thông tin)
9. B (Đoạn C, “In particular, we composed a set of statements—the Maximization Scale—to diagnose people’s propensity to maximize.”)
10. D (Đoạn D, “They are more prone to experiencing regret after a purchase, and if their acquisition disappoints them, their sense of well-being takes longer to recover.”)
11. C (Đoạn I, “The reason for this, the investigators argued, was that the full-price payers would experience more regret if they did not use the tickets because not using the more costly tickets would constitute a bigger loss”)
12. D (Đoạn I, “ To increase sense of happiness, we can decide to restrict our options when the decision is not crucial.’)
13. C IELTS Exam Preparation
