2 types of decision-making impact on purchases In his book, Thinking Fast and Slow, Nobel prize-winning psychologist Daniel Kahneman, identifies two types or systems of thinking: Fast thinking – unconscious, emotional, and instinctive thinking Slow thinking – conscious, deliberate, and largely rational thinking   Fast thinking occurs in the brain stem and limbic system without […]

2 types of decision-making impact on purchases In his book, Thinking Fast and Slow, Nobel prize-winning psychologist Daniel Kahneman, identifies two types or systems of thinking: Fast thinking – unconscious, emotional, and instinctive thinking Slow thinking – conscious, deliberate, and largely rational thinking   Fast thinking occurs in the brain stem and limbic system without thought, making it open to the effects of prejudice, and other unconscious biases. Its function is to facilitate decisions that we don’t have time to consciously ponder such as the range of automatic thinking or decision making that occurs when we drive a car. If you consciously thought about every action when driving, you simply could not drive. It would take too long. Fast thinking tends to respond to more obvious cues. Slow thinking, on the other hand, is what sets human beings apart from most other animals. Type 2 thinking occurs in the neocortex,…