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Decision Making - Coggle Diagram

- - - - overabundance of choices about preferences
        
        extends into more significant domains of life
        
        has unexpected cost
        
        make errors when choosing among handful of alternatives
        
        more likely
        
        decisions more complex
        
        choice overload
        
        1 more item...
  - - - leave store empty-handed
        
        more likely
        
        struggle deciding best option
        
        defer decision
  - - - decreased satisfaction
        
        variations in how knowledgeable consumers feel
        
        influence likelihood of choice overload
        
        ↑ knowledgeable, ↓ buy
  - - - simple decisions
        
        deliberation-without-attention effect
        
        faced with complex choices
        
        make better decisions
        
        don't devote careful attention
- - - - human thinking
        
        not as rational & effective
  - - - make fast decisions
        
        demanding circumstances
        
        quick & dirty heuristics
        
        less than perfect
        
        work well enough most of the time
  - - - based on quantitative dimension
        
        perform just as well
        
        limited knowledge
  - - - quick, simple, effortless & automatic judgements
      - slower, more elaborate, effortful & controlled judgements
        
        monitors & correct intuitive system
        
        takes over
        
        complicated / important decisions loom
- - - - don't know what will happen
  - - - recalling specific instances
  - - - people deviate in predictable ways
- - - - asserts that people tend to use simple strategies in decision making that focus on only a few facets of available options and often result in "irrational" decisions that are less than optimal
- - - - representativeness heuristics