A simulation model shows how individual differences affect major life decisions

Mandy A. E. van der Gaag (), Pieter van den Berg, E. Saskia Kunnen and Paul L. C. van Geert
Additional contact information
Mandy A. E. van der Gaag: University of Groningen
Pieter van den Berg: KU Leuven
E. Saskia Kunnen: University of Groningen
Paul L. C. van Geert: University of Groningen

Palgrave Communications, 2020, vol. 6, issue 1, 1-9

Abstract: Abstract Individuals are faced with a number of major decisions throughout their lives, including the choice of a suitable education, career, and life partner. Making such major life decisions is challenging, as is evidenced by substantial rates of divorce and drop-out from higher education. Although poor major life decisions can lead to considerable costs for both individuals and society, little is known about how people make these decisions. This is because major life decisions are not simple short-term weighings of options—they are strongly intertwined with identity development. Here, we present a simulation model of major life decisions that integrates the short-term perspective of decision science with the long-term perspective of identity theory. We model major life decisions as a process comprising many explorations of available options, resulting in changing commitments, and eventually leading to a decision. Using our model, we run a large-scale in silico experiment, systematically simulating how three key individual characteristics affect the choice process and the quality of the decision: (1) exploration tendency (broad vs. in-depth), (2) accuracy in assessing how well options fit, and (3) selectiveness. We identify the types of individuals who are at risk of exhibiting ‘maladaptive’ decision dynamics, including ruminative exploration and rash decision making, and conclude that these features often, but not always, lead to bad decisions. Our simulation results generate concrete predictions that can be empirically tested and may eventually result in individually tailored tools to aid individuals in making major life decisions.

Date: 2020
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1057/s41599-020-0446-z Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palcom:v:6:y:2020:i:1:d:10.1057_s41599-020-0446-z

Ordering information: This journal article can be ordered from
https://www.nature.com/palcomms/about

DOI: 10.1057/s41599-020-0446-z

Access Statistics for this article

More articles in Palgrave Communications from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().