A leading psychologist and philosopher challenge the shortcomings of rational choice theory-and propose a new framework for understanding decision-making.
For many decision scientists, their starting point-drawn from economics-is a quantitative formula called rational choice theory, allowing people to calculate and choose the best options. The problem is that this framework assumes an overly simplistic picture of the world where different types of values can be quantified and compared, leading to the one "most rational" choice. Behavioral economics acknowledges that irrationality is common but still accepts the underlying belief from economics of what a rational decision should look like.
In this audiobook, Barry Schwartz and Richard Schuldenfrei offer a different way to think about the choices we make every day. Drawing from economics, psychology, and philosophy-and both inspired by and challenging Daniel Kahneman's Thinking, Fast and Slow-they show how the focus on rationality, narrowly understood, fails to fully describe how we think about our decisions, much less help us make better ones. Notably, it overlooks the positive contribution that framing-how we determine what aspects are most important to us-contributes to good decisions. Schwartz and Schuldenfrei argue that our choices should be informed by our individual "constellation of virtues," allowing for a far richer understanding of the decisions we make and helping us to live more integrated and purposeful lives.
"Masterful! An utterly convincing (and beautifully crafted) argument that we need to rethink rationality. I read Choose Wisely cover to cover in two sittings but will take two decades, maybe more, to fully appreciate it."
"In Choose Wisely, Schwartz and Schuldenfrei ask a fascinatingly provocative question: Should we aspire to make life decisions in accordance with economic models of rationality? Their answer: a resounding 'no.' Instead, they paint a much broader, more human picture of decisions well made, and lives well lived."
"Choose Wisely is a lucid and quietly radical book. Schwartz and Schuldenfrei dismantle the illusion that decisions can be engineered through calculation alone-and make a powerful case for the messy, moral, and meaning-laden nature of real choice."
"In this compelling critique of rational choice theory, Barry Schwartz and Richard Schuldenfrei trace its defects to the utilitarian theory of value on which it rests. We are not only utility maximizers, they point out; we seek virtues and meaning that cannot be reduced to quantitative metrics. This book points the way to a less formalistic social science and a less transactional way of living our lives."
"How should we make choices in the real world, particularly when outcomes are so uncertain? In this timely and wise book, Schwartz and Schuldenfrei show that using good judgment, understanding others' intentions, and framing our alternatives to align with what we value is the road to better decisions and to a good life."
