ECONOMICS

Detailed explanation-1: -Several factors influence decision making. Those factors are past experiences, cognitive biases, age and individual differences, belief in personal relevance, and an escalation of commitment.

Detailed explanation-2: -This study addresses the influencing factors that are related to decision making, and categorizes them under five captions: Personal factors, organizational factors, Social factors, Environmental factors and behavioural factors.

Detailed explanation-3: -The factors influencing decision-making are personality, culture, context, information available, and level of education. These factors should be kept in mind whenever a person is taking any decision, as some of them can be controlled but not all, like personality or culture.