Choice is not always a good thing, writes Business News Daily. It says a Washington University study found that a larger range of choices, particularly when it comes to purchases related to the future, are not as appealing as originally thought. In short, in some circumstances shoppers actually tend to prefer less choice not more. It is reminiscent of a famous experiment that gave shoppers the chance to taste many different flavours of jam.
Living through a recession may be the cause for a rise in sharing economies, reports LearnVest. It says that increasing numbers in the younger generation (Gen Y) trade second-hand rather than buying new. Internet advances helped the movement known as collaborative consumption – despite the system being a step back towards the bartering and trading system.
Farnam Street blog highlights tricks and traps that encourage bidders to overpay at auctions. It says “scarcity” is a factor because items become overvalued because there is only one of them. Another factor is “competition” and the desire to win against others.
