The Science of Decision Making
Psychology behind decision making
In the brain, a well known psychologist named Daniel Kahneman introduced the Dual Process Theory, which states that there are two systems at work when making decisions.
System 1 thinking, otherwise known as “fast” thinking, is quick and instinctual. These decisions are often made without us even realizing a decision has been made. Examples include inching forward in traffic, checking a cellphone, or making coffee in the morning.
Additionally, there are a number of factors that can influence our unconscious decision making.
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Heuristics are mental shortcuts our brain uses to help with decision making.
An example are generalizations, or rules-of-thumb, that help our brain reduce cognitive load. They can be effective for making immediate judgments, however, they often result in irrational or inaccurate conclusions.
thedecisionlab.com
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A bias is a tendency, inclination, or prejudice toward or against something or someone.
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Emotions are conscious mental reactions (such as anger or fear) subjectively experienced as strong feelings usually directed toward a specific object and typically accompanied by physiological and behavioral changes in the body.
What does all this mean? That the vast majority (95%) of the decisions we make are irrational, highly influenced, emotional, subjective, and made without conscious thought.
System 2 thinking, otherwise known as “slow” thinking, is logical, slow, and conscious. When deciding where to put the oven in a kitchen remodel, you may weigh pros and cons of different placements. The decision is approached in a logical manner with effort and thought.