The Psychology of Decision-Making: How Biases Influence Choices

in blurt-131902 •  17 hours ago 

If there is actually something I have come to discover in my life that truly matters, it is the fact that the decisions we make can either shape us negatively or positively. Everyone is a product of his or her decisions and that is why we must give importance to our decision making skills. There are some decisions that leads to regrets and there are some decisions that leads to success. For every decision that every Individual makes, it is not just randomly made by someone.

Everyone is always influenced by their decision psychologically and the earlier we understand this, the better it will be for us . When making decisions, there are a lot of things we need to consider which I have come to discover that a lot of us hardly makes. Factors like the risks involved, the end product of the decisions, the pros and cons of every decisions should be accurately considered so that we can make the right decision.

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I have seen people make decisions based on what they actually know years past. It is good but it is not good enough. Of course there are some already gotten knowledge that we can use to make wise decisions but at the same time it should not be a pattern. Why it should not be a pattern is because there are something's that we know many years past which are not relevant again and so if you are still acting on that knowledge, it might continually lead you to make wrong decisions.

Not only that, in my little observation about people, I have come to discover that a lot of people make decisions based on overconfidence which is a deadly thing. I am not saying you should not have confidence in your self but let it be minimal. This particular overconfidence factor is found in business, academics and even maritally. A lot of businesses owners always make decisions because they felt that is the right decision. Sometimes it can be true and sometimes it can actually be false.

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People that actually fall into the category of overconfidence majorly due so because they put so much confidence either in their experience, their knowledge or what they generally know. Those things are good but if it is so stretch beyond the balance, it can influence you to make negative decisions at the end of the day. Yes I have been a victim of this several times which I made wrong decisions because I put so much confidence in my knowledge and generally my experience.

A lot of people are been afraid to make some certain decisions in their life whether in the aspect of finance, relationship, academically or even health because of fear of unknown. A lot of people are afraid that the past decisions they make end up in wrong way and so they are really afraid of what next they should actually do. The truth is, you should be careful how you handle some certain decisions in your life because it can determine how your life ends up positively or negatively. Everyone of us should be careful the decisions we make. The earlier we take note of this, the better our live will be.

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