17 checked facts

Decision

Everything on this site about decision — each one naming the study behind it.

You prefer a known failure to an unknown outcome.
Humans tend to prefer smaller, guaranteed payoffs over larger, uncertain ones in the domain of gains, but often favor …
You fear losing more than you value gaining.
Prospect theory suggests that the psychological pain of losing $100 is roughly twice as intense as the pleasure of gai…
You judge risk based on how a question is phrased.
A 1974 study found that describing a car accident as 'smashing' instead of 'hitting' led people to estimate higher spe…
You overvalue items because you own them.
A 1990 study demonstrated that sellers consistently ask for higher prices than buyers are willing to pay for the exact…
You prioritize small gains over large rewards.
The 'present bias' is an economic model describing the tendency to value smaller, immediate rewards over larger, delay…
You reject options when the outcome is unclear.
People avoid choices where the probability of success is unknown, even when other choices have lower odds.…
Your decision quality deteriorates throughout the long workday.
A 2011 analysis of 1,100 judicial rulings found that parole approval rates dropped from 65% to zero as the day progres…
You devalue future rewards to prioritize immediate, smaller gains.
A 1981 study found that participants often chose a smaller, immediate reward over a significantly larger reward availa…
Your first impression of a number dictates your final choice.
Providing an initial, arbitrary value significantly shifts your estimation of a subsequent, unrelated number.…
You spend money differently depending on where it comes from.
Mental accounting explains why you treat a $100 windfall differently than $100 from your salary.…
You choose the middle option to avoid extremes.
A third, inferior option can make the other choices more attractive.…
You feel less guilty when you choose inaction.
Humans assign more moral weight to active harm than passive neglect.…
You gauge risk by the news, not logic.
You estimate the probability of events based on how easily examples arise.…
You stick to the status quo to avoid making a choice.
The default effect is your tendency to accept a pre-set option because it requires no active decision-making.…
You feel more capable when you believe you have control.
A 1975 study demonstrated that people were less likely to sell a lottery ticket if they were the ones who had chosen t…
You like the things you choose more than you did.
A 1956 study found that after being asked to rate several household appliances, participants rated the one they chose …
A random number drastically alters your next choice.
In a 1974 study, spinning a wheel of fortune influenced participants' subsequent estimates of geographical data.…