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Strategies & Market Trends : Aardvark Adventures -- Ignore unavailable to you. Want to Upgrade?

To: ~digs who wrote (6069)	1/25/2009 4:34:32 AM
From: ~digs	Respond to of 7944

academic theories about how we make decisions.. changingminds.org Motivation to decide * Cognitive Dissonance: we try to reduce the discomfort of dissonance. * Consistency Theory: we seek the comfort of internal alignment. * Commitment: we feel obliged to complete a public commitment. * Certainty Effect: a certainty that becomes less likely has high impact. * Choice-supportive bias: Distorting memories to make decisions seem good. * Confirmation Bias: we seek confirmation that we made a good decision. * Scarcity Principle: we anticipate regret and so want what is scarce. * Sunk-Cost Effect: we are reluctant to pull out of an investment. Thinking process * Ambiguity Effect: We prefer a known probability to an unknown one. * Bias Blind Spot: We do not compensate enough for our own bias. * Elaboration Likelihood Model: We either think centrally or take unthinking short-cut decisions. * Heuristic-Systematic Persuasion Model: We either use short-cuts or logic to interpret arguments. * Hyperbolic discounting: We prefer short-term benefits. * Information Bias: Seeking facts when making decision, even when they are irrelevant. * Information Processing Theory: Persuasion requires attention and comparison with previous views. * Source Credibility: Who we are likely to believe. Deciding * Augmenting Principle: evidence for a decision is accumulative. * Bounded Rationality: we only use limited logic in decisions. * Explanatory Coherence: we like simple, explainable hypotheses. * Filter Theory: we make choices through a series of selection filters. * Multi-Attribute Choice: we use various strategies for different types of choice. * Mere Exposure Theory: simple exposure makes us like things more. * Perceptual Contrast Effect: we decide by comparing things. * Priming: Setting up memory to be used later. * Involvement: when we are involved we need more information.