How imperfect memory causes poor choices
Quick: Pick your three favorite fast-food restaurants. If you're like many people, McDonald's, Wendy's, and Burger King may come to mind--even if you much prefer In-N-Out or Chick-fil-A. A new study from UC Berkeley's Haas School of Business and UC San Francisco's Department of Neurology found that when it comes to making choices, we surprisingly often forget about the things we like best and are swayed by what we remember. The paper, publishing this week in the journal Proceedings of the National Academy of Sciences, combines insights from economics and psychology with decision-making exp...
Source: eurekalert.org