How do we decide?
A article in the Times and referenced in the Stanford Business School's Knolwedgebase Newsletter on recent work by Baba Shiv, professor of marketing at Stanford Graduate School of Business, on how emotions influence decision-making.
The top line:
- Emotions are key to decision-makingA paper along the same lines (Nonconscious Goals and Consumer Choice by Tanya L. Chartrand, Joel Huber, Baba Shiv, Robin J. Tanner) addressing the value of emotions in making choices is published in this months Journal of Consumer Research.
- Commitment to a decision is critical
- Vulcan behaviour can be forced
- Price can influence the emotional experience
- Desperation (fear) is good for getting people to do something and so are Unexpected rewards
- Women make better decisions
- People are optimists
- Hope causes a delay in decision-making
