In this section, we attempt to address some of the sociocognitive aspects of decision making. There are several factors that influence our decisions, such as past experiences (Juliusson, Karlsson, & GÖrling, 2005), cognitive biases (Stanovich & West, 2008), age, and individual differences (Bruin, Parker, & Fischoff, 2007 ), beliefs in personal relevance (Acevedo, & Krueger, 2004), information overload, illusion of knowledge, heuristics and escalation of commitment etc. It is important to know the factors that influence our decisions, because it helps to understand what can influence the results and why a certain decision is made. Social cognition involves the perception, interpretation and processing of social information that underlies social interactions and includes emotions, social perception, social cognition and attribution biases (Penn et al, 2005a). As we know, heuristics is one such phenomenon that serves as a framework in which satisfactory decisions are made quickly and easily (Shah & Oppenheimer, 2008). Therefore, social cognition researchers are concerned with that social realm involving its many hidden and subjective characteristics. Furthermore, past experiences can also influence future decision making. Juliusson, Karlsson, and Garling (2005) stated that based on past experiences people infer the future. If a positive outcome has occurred in the past, people are more likely to decide similarly if given a similar situation. Again, in real life, when first encountering a sudden event such as an accident, people accumulate this information as knowledge or believe in their own memory. This accumulated knowledge and beliefs are known as cognitive structure. Our mind is made up of a large amount of su...... middle of paper ...... The creation of n has been widely shared across various disciplines because it is a fundamental goal of social life. This is an important area of research in the field of social cognition. Understanding the process through which individuals make decisions is important to know how decisions are made, which further helps in knowing the different factors that influenced the outcomes. Some of these factors are past experiences, cognitive biases, age and individual differences, belief in personal relevance, and increased commitment. Since we know that the essence of decision making seems to integrate both in the related social situation and in the subjective reactions to such situations, it can be concluded that many important aspects of social cognition not only help us to know what is involved in making decisions, but helps us also to interpret the world around us more effectively.
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