People will make worse financial decisions for them if they're choosing from a lot of options than if they're choosing from a few options. If they have more options they're more likely to avoid stocks and put all their money in money market accounts, which doesn't even grow at the rate of inflation.
Sheena IyengarIf you have the feeling of choice, if you feel free, you will be better off. And when I say better off I mean that if people feel they have control over their lives, they call in for fewer sick days from work. They have a lesser probability of having a heart attack or stroke. They live longer. They're happier.
Sheena IyengarSo on the one hand in school you're teachers are constantly telling you that you can be whatever it is you want to be as long as you put your mind and heart to it, and yet at the same time I was also getting the clear message of, well, what can you do really?
Sheena Iyengar