The impact of social influence on decisionmaking from "summary" of Misbehaving by Richard H Thaler
Human decision-making is a complex process influenced by a myriad of factors, one of the most powerful being social influence. We are not the rational beings we like to think we are; rather, we are heavily influenced by those around us, often without even realizing it. This phenomenon can have a profound impact on the choices we make and the outcomes we experience. Social influence can manifest in various forms, from peer pressure to conformity to authority figures. When faced with a decision, we look to others for guidance, whether consciously or unconsciously. We seek validation from our social circles, wanting to fit in and avoid standing out. This desire for social acceptance can lead us to make choices that may not align with our true ...
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