Education facilitates better Decision-Making skills

Posted on October 9, 2018

Many researchers have been focusing on behavioral and social sciences related to psychology, education and economics. There are studies being done to find out if rationality in decision-making is born within us or is rationality something can be improved on through education.

Education interventions are proven to cause a rise in educational performances and rationality in making economic decisions in terms of the frequency of people making decisions to pursue economic goals.
People who participated in education interventions had a higher level of economic rationality, this shows that education is useful in improving one’s economic decision-making skills. Although education is associated with higher income and better health, career provides extra benefits from bettering one’s decision-making skills.

Economic theories often assume that people make rational decisions. However in the real world, people regularly make systematic errors in their choices and perceptions towards certain things, people and situation. Sometimes, those are inevitable human errors. Even if most people might be rational creatures, everyone differs in their own way and act differently towards similar situations most of the time.

There are also other research studies working on improving decision-making skills by lowering the probability of being biased in decision-making. One example would be behavioral economists convincing policymakers to intervene markets and reset the chosen environments and how decisions are demonstrated without restricting one’s freedom to choose.

Suitable policies can help improve decision-making skills. Education is useful in instilling better decision-making skills in life. Governments should never underestimate investments on people skills, workforce training and other courses which help improve human characteristics

Category(s):Adjusting to Change / Life Transitions, Child Development, Health Psychology, Life Purpose / Meaning / Inner-Guidance, Positive Psychology

Source material from Science Daily

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