Although the steps of problem solving and decision making that we will discuss next may seem obvious, we often don’t think to or choose not to use them.
Instead, we start working on a problem and later realize we are lost and have to backtrack.
I’m sure we’ve all reached a point in a project or task and had the “OK, now what? I’ve recently taken up some carpentry projects as a functional hobby, and I have developed a great respect for the importance of advanced planning.
It’s frustrating to get to a crucial point in building or fixing something only to realize that you have to unscrew a support board that you already screwed in, have to drive back to the hardware store to get something that you didn’t think to get earlier, or have to completely start over.
Anchoring suggests that we rely too heavily on the first thing we hear (in this case, the initial price of the car).
Problem Solving Vs Decision Making
That's what makes the discount so appealing, but it shouldn't be the deciding factor.
Something called status quo bias might be to blame.
That's our tendency to stick with what we know, instead of choosing something new and different.
The larger display attracted more people, but they were six times less likely to actually buy a jar of jam (compared to those who visited the smaller display).
The reason for this is a phenomenon now known as choice overload.