ABSTRACT
This chapter clarifies the processes our brain uses to provide the information that enables us to make decisions. We will also learn how bringing these processes to a greater level of consciousness can improve our judgement and hence help us make better decisions. Nonconsciously, we process about 200,000 times more information per second than we do consciously, although only a small proportion will be related to decision-making. Typically our unconscious biological reactions engage about 250 milliseconds before our conscious processes. Economics is a good discipline to consider the limitations of rational/logic thinking. Economists are excellent at explaining the past once all the information is available but notoriously poor at predicting the future. Insight is something quite different but is again often confused with intuition. The Oxford Dictionary defines it as "the capacity to gain an accurate and deep understanding of someone or something".
