Use of English

Everyday Decisions

Psychologists have long been interested in how people make decisions, especially when they believe they are acting in a fully rational (0) MANNER. In reality, however, our choices are often shaped by mental shortcuts, emotions and social pressure. Rather than carefully weighing up every option, we tend to (1) .......... on rules of thumb that save time but may also lead us astray. One well-known finding is that people are strongly influenced by the way information is (2) ........... A medical treatment described as having a 90 per cent success rate, for instance, is usually judged more favourably than one said to carry a 10 per cent failure rate, even though the figures are identical. Researchers also point (3) .......... that people dislike losses more than they value equivalent gains, which helps explain why many individuals are reluctant to take risks. Another factor is the effect of previous decisions. Once people have invested time, money or effort in something, they often persist, even when the evidence (4) .......... that they should stop. In addition, we are highly (5) .......... to the opinions of others, particularly in uncertain situations. As a result, decision-making is not simply a matter of logic, but a process (6) .......... by context, memory and expectation. Understanding this can help us (7) .......... better choices and avoid being misled by first impressions. It may not remove bias altogether, but it can at least make us more (8) .......... of it.