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Essay / Essay on Social Cognitive Aspects of Decision Making
In this section we try to address some of the social cognitive aspects of decision making. Several factors influence our decisions, such as past experiences (Juliusson, Karlsson and Görling, 2005), cognitive biases (Stanovich and West, 2008), age and individual differences (Bruin, Parker and Fischoff, 2007), beliefs. in terms of personal relevance (Acevedo and Krueger, 2004), information overload, illusion of knowledge, heuristics and escalation of commitment, etc. It is important to know the factors that influence our decisions, as it helps to understand what may impact the results and why a particular decision is made. Social cognition involves the perception, interpretation and processing of social information that underlies social interactions and includes emotion, social perception, social knowledge and attribution biases (Penn et al, 2005a). As we know, heuristics is one of those phenomena that serves as a framework within which satisfactory decisions are made quickly and easily (Shah & Oppenheimer, 2008). Thus, social cognition researchers are interested in this social domain which involves its many hidden and subjective characteristics. Additionally, past experiences can also impact future decision-making. Juliusson, Karlsson, and Garling (2005) claimed that, based on past experiences, people infer the future. If there has been a positive outcome in the past, then people are more likely to decide the same way if they find themselves in a similar situation. Again, in real life, when first faced with a sudden event like an accident, people accumulate this information as knowledge or believe in their memory. This accumulated knowledge and beliefs are known as cognitive structure. Our minds are made up of a large amount of matter...... middle of paper ...... making has been widely shared across various disciplines because it is a fundamental goal of social life. This is an important area of research in the field of social cognition. Understanding the process by which individuals make decisions is important to know how decisions are made, which further helps to know the different factors that influenced the outcomes. Some of these factors are past experiences, cognitive biases, age and individual differences, belief in personal relevance, and an escalation of commitment. As we know that the essence of decision-making seems to be embedded in both the social situation at hand and the subjective reactions to those situations, it can be concluded that many important aspects of social cognition not only help us to knowing what is involved in decision making, but also helps us interpret the world around us more effectively.