10 Interesting Fact About The Psychology of Decision Making

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• Decisions taken by a person can be influenced by weather conditions. When the weather is sunny, a person tends to make a more optimistic decision, while during bad weather, decisions taken tend to be more pessimistic.
• A person is more likely to choose an option that has a lower risk when his emotional condition is bad or stressed.
• Increasing the number of choices in a situation can make a person more difficult in making decisions.
• Social influence can also influence one's decisions, especially if the person feels part of a group or community.
• A person tends to choose options that are closer and easily accessible than farther or difficult options.
• The status quo bias is the tendency of someone to choose the same option as previously taken, although there are better options available.
• A person is more likely to choose an option that gives exact results rather than options that give uncertain results, although uncertain results may be more profitable.
• Overconfidence Bias is a tendency for someone to feel too confident in his abilities and knowledge, so that they can make inappropriate decisions.
• Someone tends to choose options that provide short -term benefits rather than long -term benefits, although long -term benefits are greater.
• Framing effect is the influence of the way a situation or problem is presented on someone in influencing decisions taken. For example, if a choice is presented in the form of a loss, a person tends to choose an option that gives a smaller loss.