I mean it wasn't that they sat around thinking oh gosh I needed more choices in my grocery stores the way I had come to think about it as an American growing up.

Consumers presented with six choices on an item were twice as likely to buy as consumers overwhelmed with 24 varieties of the same item.

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.

This is at a time when you know most of us drank tap water, so I used to go to this store and examine all the varieties and we used to marvel at all the choices out there, but I found that I rarely bought anything and I kind of thought that was kind of curious. I mean, they had things that the other grocery stores didn't have and yet I never bought anything.

We also don't always know what we want. And in those cases it can actually make us worse off because it's actually easier to figure out what you want and to figure out how the options differ if you have about a handful of them than if you have a hundred of them.

You know, you take a little infant and you turn on the music mobile on their crib and you find that if you give them a music mobile which turns on automatically versus a music mobile in which - if by chance their little legs or their little hands accidentally touches it - turns on they're so much more excited if by chance it turns on because they touched it, so that desire for control over their environment is... really appears from very early on and if you look at children's first words, "no, yes."

We began to look at "Why is that?" And a large part of that has to do with the fact that when people have a lot of options to choose from they don't know how to tell them apart. They don't know how to keep track of them.