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We often make decisions based on social comparisons from "summary" of Predictably Rational? by Richard B. McKenzie
When faced with decisions, we tend to look to others around us, comparing ourselves to them in order to determine what to do. This process of social comparison influences our choices more than we may realize. We observe the actions of those in our social circle and use them as a reference point for our own behavior. This can be seen in various aspects of our lives, from the products we buy to the way we behave in social situations. Social comparisons can lead to a 'keeping up with the Joneses' mentality, where we strive to match or exceed the possessions and achievements of our peers. This can result in a cycle of competitive consumption, where we feel the need to constantly upgrade and acquire more in order to keep pace with others. The fear of falling behind socially can be a powerful motivator in our decision-making process. In addition to material possessions, social comparisons can also influence our behavior and attitudes. We may conform to the norms of our social group in order to fit in and be accepted. This can lead us to make choices that we might not have otherwise made, simply to align ourselves with the expectations of those around us. Our desire for social acceptance can outweigh our own preferences and values, leading us to act in ways that may not be in our best interest. Social comparisons are not always negative, however. They can also serve as a source of motivation and inspiration. Seeing others succeed can push us to strive for greater heights and achieve more in our own lives. By observing the accomplishments of those around us, we can set goals for ourselves and work towards achieving them. In this way, social comparisons can be a driving force for personal growth and development.- The concept of making decisions based on social comparisons is a powerful force in shaping our behavior and choices. Whether we are influenced by a desire to keep up with others or inspired by their achievements, the impact of social comparisons on our decision-making process is undeniable. By understanding the role that social comparisons play in our lives, we can become more aware of how they influence us and make more conscious choices moving forward.
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