Tuesday, November 22, 2005

None of the Above

Too Many Choices - Why seniors won't sign up for the Medicare prescription drug plans. By Barry Schwartz

For the two years that I've been writing about the new Medicare drug plan for work, I've thought that someone could write a great article about how this is a Paradox of Choice situation, where too many choices will cause seniors to ignore the program altogether. Now the author of Paradox has done just that. And he makes a great comparison between the drug plans and the myriad investment options many employees must choose among in their employer-sponsored retirement plans. In both of these cases, and in many others, having too many choices leads people not to make a choice at all--which is, in effect, the worst choice they can make.

If only I could convince all of America to read the book...

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