Too Many Choices: A Model To Predict Open-ended Consumer Decisions forbesindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbesindia.com Daily Mail and Mail on Sunday newspapers.
Quick: Pick your three favorite fast-food restaurants.
If you re like many people, McDonald s, Wendy s, and Burger King may come to mind even if you much prefer In-N-Out or Chick-fil-A.
A new study from UC Berkeley s Haas School of Business and UC San Francisco s Department of Neurology found that when it comes to making choices, we surprisingly often forget about the things we like best and are swayed by what we remember. The paper, publishing this week in the journal
Proceedings of the National Academy of Sciences, combines insights from economics and psychology with decision-making experiments and fMRI brain scans to examine how our imperfect memories affect our decision making.