Recent or vivid information can dominate our decisions from "summary" of Judgment in Managerial Decision Making by Max H. Bazerman,Don A. Moore
Our decisions are often heavily influenced by recent events or vivid information that is easily accessible to us. When making decisions, we tend to give more weight to information that is fresh in our minds or that stands out in some way. This can lead us to make choices that may not be in our best interest in the long run.
One reason for this phenomenon is that recent or vivid information tends to be more salient to us. It stands out in our minds and captures our attention, making it more likely to influence our decisions. We are more likely to remember and consider information that is recent or vivid, even if it is not necessarily the most relevant or important.
Furthermore, recent information may also be more readily available to us when we are making decisions. We may have just read an article, had a conversation, or experienced an event that is fresh in our minds and therefore more likely to impact our choices. This availability heuristic can lead us to overemphasize the importance of recent information in our decision-making process.
In some cases, the influence of recent or vivid information on our decisions can be beneficial. For example, if we are considering a new product launch and have just received positive feedback from a focus group, it may be wise to give this information more weight. However, in many cases, decisions based solely on recent or vivid information can be shortsighted and lead to suboptimal outcomes.
It is important for decision-makers to be aware of the tendency for recent or vivid information to dominate their decisions. By taking a step back and considering all available information, including information that may not be as recent or vivid, decision-makers can make more informed and thoughtful choices. Being mindful of the potential biases introduced by recent or vivid information can help us make better decisions in both our personal and professional lives.
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