You make decisions quicker and based on less information than you think - Deepstash
You make decisions quicker and based on less information than you think

You make decisions quicker and based on less information than you think

Curated from: theconversation.com

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Information and decision making

The fact that we live in an age of information should allow us to make super-informed, data-driven decisions all the time.

But the widespread availability of information does not mean that we actually use it even if we have it: decades of research in psychology and behavioral science found that people readily make data-poor snap judgments in a variety of instances (when forming impressions, when shopping, when evaluating, even when voting).

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Snap judgments

Individuals fail to anticipate how little information they and others use when making decisions.

An the immediacy of human judgment generally surprises people: we are startled by how quickly we make judgments and how little information we use doing so.

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Snap judgments

Snap judgments

We fail to anticipate how little information we (and others) use when making decisions.

The immediacy of human judgment generally surprises people: we are startled by how quickly we make judgments and how little information we use doing so.

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Processing information

New information doesn't stack on top of old information until some mental threshold is reached for making a decision.

In reality, the first few pieces of information are weighted much more heavily than later information.

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Quick decisions

Quick decisions

Quick decisions are not always bad. Sometimes they even are remarkably accurate and can save time.

It would be overwhelming to comb through all the available information on a topic every time a decision must be made.

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Recognizing the rush to judgment

Misunderstanding how much information we actually use to make our judgments has important implications beyond making good or bad decisions.

An example could be our tendency to rely on stereotypes when judging other people: we may believe we'll consider information from all the angles, but in fact, we are more likely to consider very little information and let stereotypes creep in.

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IDEAS CURATED BY

rykerx

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