Section 4, Question 4

Behavioral economists have come to believe that a (i)______ of choices can be paralyzing, as Schwartz pointed out in the recent book The Paradox of Choice. Studies of retirement plans show that the more investment choices a plan offers, the less likely people are to participate in it. It may follow, then, that a lack of flexibility in certain plans may actually be a (ii)______. People reasonably (iii)______ some advantage in exchange for peace of mind.

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