Lic. Economia

Economists base their studies, formulas and reasoning on the idea that people are rational and they are like cold calculating machines when making decisions, far fromthis, recent studies have shown that there are hundreds of things we still don’t know about decision making. Some scientists think that making a decision involves notonly conscious brain, but also emotions, instinct or intuition, and many other factors beyond our comprehension.
Also there are some biological factors involved inthis process, for example people who tend to have higher testosterone levels are most likely to take risk at the time to make a decision, that’s why neuroeconomist AldoRustichini suggests that there should be more women in stock markets to make them more stable. As we move forward to the future, advancing towards totalglobalization, we become more sensible to the little decisions that important people take.
We have only started to comprehend the function of various emotions that influence inthis process, for example there is envy and regret, studies have shown that these feelings are a tool for learning and, as a result, making better choices. Also,scientist have demonstrated that not only conscious brain takes rational decision, but as well intuition is more rational than we thought, this fact is verified on everydaylife, as we make decisions totally without thinking.
This is such an important topic for understanding events like the recent economic crisis and also as an instrumentto influence in the decisions of other people. The fact is that the better we know the origins of decisions the more likely we would be to make better decisions.