Abstract

Decision making the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. In life, many a times we are faced with a situation in which we must make a decision between two alternatives or more than two. It is this process of choosing just one among two or more alternatives. A choice is made when the decision-maker examines the benefits and drawbacks, analyzes the issue from various angles, seeks counsel, conducts research, and assesses the available information. While making a decision our opinions and action are chosen via mental process that are influences by various things like biases, heuristics, memories etc. Cognitive biases, inherent patterns of thinking can cloud our judgment in the decision-making process. Like the confirmation bias where we loom for information which supports our previous beliefs, while ignoring contradicting information. Decision making is also not always a rational process. Our emotions too play a huge role in the process of decision making.

Full Text
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