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Non-Rational Factors in Decision Making

Author: Marlene Johnson
Video Transcript
Terms to Know
Emotional Bias

A tendency to believe that something which generates a pleasant feeling is “good,” and that something which evokes an unpleasant feeling is “bad.”

Non-Rational

In decision making, the influence of emotional factors rather than tangible gains/losses associated with a choice.

Rule of Thumb

An expression, meaning a general estimate, knowing it will not be entirely accurate in all situations.

Salience

A factor of an object, idea, choice, etc. which draws additional attention to that item.

Status Symbol

An item which suggests that its owner has a high social status.