What It Takes to Make Good Decisions: Judgment, Not Calculation
The real work in deciding is not in the calculation, but all the thinking that surrounds it.
The real work in deciding is not in the calculation, but all the thinking that surrounds it.
A half century of research on how people make decisions has shown that rational choice theory fails to describe how people do choose. Nevertheless, it has remained at the center of things, as the normative answer to questions about how people should choose.
The theory that underpins much of decision-making science falls short as a way to think about how we actually make decisions and how decisions should be made.
A new study featuring more than 7,000 participants from six countries found that choice deprivation—a feeling of not having enough to choose from—not choice overload is the most common consumer experience.