We use less information than we think we do to make up our minds.
While we may have access to a wide range of information to make judgments such as good or bad, we use less information than expected. This was supported in seven studies which tested whether people can correctly anticipate how much information they and others use when making varied judgments. The researchers consistently found that people were surprised by how quickly they made judgments and how little information they use doing so. They suggested that minds are less curious and less open to information than we assume, which can lead to costly misunderstandings, such as overworking to impress others and overpaying for decision aids. While we may believe that exchanging more information will lead to better informed decisions some of this may be lost on decisions already made.
doi.org/10.1073/pnas.1805327115
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