Summary: A new framework integrates psychology and economics to show how memorable experiences influence long-term decision-making. Their model separates the immediate utility of consumption from the lasting “remembered utility” derived…
Category: decision making
Unexpected Sounds Boost Dopamine, Leading to Riskier Decisions
Summary: A new study shows that unexpected sounds can cause dopamine bursts in the brain, which may lead to riskier decision-making. Researchers found that participants were 4% more likely to…
“Sleeping on It” Helps With Rational Decision Making
Summary: A new study reveals that while snap judgments heavily influence decisions made immediately, “sleeping on it” helps people make more rational choices. Researchers found that participants who made instant…
Emotion vs. Reason: Rethinking Decision-Making
Summary: Researchers challenge the notion that rational thinking is the only path to good decision-making. Highlighting the limited role of rationality in our choices, the researchers emphasize the profound influence…
Optimism Linked to Poor Decision-Making and Lower Cognitive Skills
Summary: While optimism is often celebrated, a new study reveals that excessive optimism can lead to poor decision-making, particularly in financial matters. The research shows that individuals with high cognitive…
ChatGPT’s Choices: Overload or Overjoyed? Decoding Decision Dynamics
Summary: Researchers delved into how ChatGPT influences user decision-making, focusing on the ‘choice overload’ phenomenon. This condition emerges when an individual is overwhelmed by numerous options, often leading to decision…
