Economic Theory explained by Football 20 – The Paradox of Choice

In 2004 American psychologist and Philadelphia Union fan Barry Schwartz published his book called The Paradox of Choice – Why More is Less where he argued that eliminating consumer choices was actually a good thing as it greatly reduced anxiety for consumers.

“Autonomy and Freedom of choice are critical to our well-being, and choice is critical to freedom and autonomy. Nonetheless, consumers today have more choice than any group of people ever has before, and thus, presumably, more freedom and autonomy, we don’t seem to be benefiting from it psychologically.“  Barry argued.  Whilst his text made references to consumers throughout the book, it is clear that deep down he was actually basing his research on the spiralling transfer market.

Schwartz espoused the concept of voluntary simplicity, where we only have a small number of choices in life and immediately you can see he is referring to the majority of Non-League football clubs, who simply do not have the resources to be able to pick and choose the players they want.  We often refer to this as Hobson’s Choice, named after the Oxford United Chairman who found himself with no candidates when he advertised for the manager’s role a few year’s ago.

The concept of the Transfer Window in the world-wide professional game was supposed to reduce the stress and burden on clubs but all that it has done is concentrate the wheeler-dealings into two small windows.  Clubs struggling in the first half of the season put all of their hopes in the January Transfer Window but are often frustrated by rising prices because the selling clubs know they are desperate based on their league position.  The Paradox of Choice is seen in full effect where there are often far too many options but too few genuine choices.  Unless a club is prepared they simply will not be able to see the wood for the trees.

Schwartz’ research found that when people are faced with having to choose one option, or player out of many desirable options, they will naturally consider the trade-offs mentally before making their decision and they will think in terms of the value of the missed opportunities rather than the value the potential choice will bring.

Every week Darren has to make a choice between putting a substitute keeper on the bench or an outfield player.  It has been over a year since we have needed to use a sub keeper, although those who saw the game at Canvey Island last year would have prayed we had on that day and it is therefore a fair decision to put five outfield players on the bench each week.  If we only had a squad of 16 players then he wouldn’t have to make that difficult decision – it’s not like he has to play everyone on the bench.  So perhaps the Paradox of Choice would make his job a little less stressful come match day.

Schwarz’s theory has been debunked by a number of further studies, suggesting the complete opposite, that more choices make people happier.  But if you knew the back story about his research you’d understand it was all about football anyway.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s