We (as in my family, not CGD) are in the process of moving into a new home, which involves a great deal of choice: choosing paint colours, tiles, locations for various bits of furniture. It’s normal in economics to consider more choice to be a good thing, but this assumes that we’re able to optimise how long we spend looking at different shades of whitish-creamy-eggshell before choosing. As the difference between options gets smaller, it becomes less worth spending time to choose between them, and there comes a point where it’s better to just pick from the options at random, rather than spend any time deliberating.
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