Context matters in decisionmaking from "summary" of Misbehaving by Richard H Thaler
In the world of decision making, context matters. It shapes the choices we make and the outcomes we experience. Context can come in many forms - from the environment we are in, to the people around us, to the information available to us. It influences our decisions in ways we may not even realize.
Consider a simple example: a person deciding whether to purchase a new car. The context in which this decision is made can vary greatly - from the individual's financial situation, to their past experiences with car ownership, to the advice they receive from friends and family. Each of these factors can have a significant impact on the final choice that is made.
In many cases, people rely on me...
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