Dan Gilbert at Harvard has looked at this area and demonstrated the effect letting go of your options has, in a study evaluating how people made decisions about different Monet art prints. He asked people to rank five different Monet prints according to their preference, numbering them from one to five. Whichever prints the subjects ranked numbers three and four he said the experimenters happened to have spare copies of and were letting subjects take one home with them. Of course, most of the people took the one they had ranked number three. Then, interestingly, the experimenters told some of the people that they could swap the one they took for the other one later if they wanted to, and the other people were told that whatever print they took home was itâno swapping.
After a few weeks, the experimenters checked back with the subjects. The people who had been told they could swap their printsâeven though they had not done soâwere less happy with their choices than the people who had chosen the exact same prints but had been told the choice was irreversible. It turns out that reversibility is not conducive to establishing reliable happiness with a decision. Apparently, just the invitation to reconsider and âkeep your options openâ makes us doubt and devalue our choice.