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  • Thumbnail for Advice Taking Behaviors as a Result of Social Inequality
    Advice Taking Behaviors as a Result of Social Inequality by Lapointe, Anne-Sophie

    This paper explores how making a decision is influenced by the type of decision-making process people have to go through as well as their social class. It is possible to enhance decision-making skills by understanding its biases. The results of the study rely on data collected by running anonymous surveys on Colorado College undergraduate students. Those findings were made possible by the study of two different models that were built and regressed using the OLS model. It is possible to overcome prejudices since the results of this study show that people’s confidence level without getting advice from anyone is lower as social class decreases. The hypothesis of a higher initial confidence level when coming from a higher class was confirmed. When coming from a higher class, people feel more powerful so they tend to be more confident in themselves. Confidence level also varies considerably based on the type decision-making scenario people are faced with. Only the type of decision one is seeking to make showed to be significant on predicting how many sources the individual reached to in order to make a better decision. The type of decision-making situation both influence the confidence level as well as how many sources are reached in order to improve that specific decision. Financial decisions result in a higher number of resources while personal decisions require the least. Decisions concerning people’s future stand in between the two other decision-making types.

  • Thumbnail for Advice Taking Behaviors as a Result of Social Inequality
    Advice Taking Behaviors as a Result of Social Inequality by Lapointe, Anne-Sophie

    This paper explores how making a decision is influenced by the type of decision-making process people have to go through as well as their social class. It is possible to enhance decision-making skills by understanding its biases. The results of the study rely on data collected by running anonymous surveys on Colorado College undergraduate students. Those findings were made possible by the study of two different models that were built and regressed using the OLS model. It is possible to overcome prejudices since the results of this study show that people’s confidence level without getting advice from anyone is lower as social class decreases. The hypothesis of a higher initial confidence level when coming from a higher class was confirmed. When coming from a higher class, people feel more powerful so they tend to be more confident in themselves. Confidence level also varies considerably based on the type decision-making scenario people are faced with. Only the type of decision one is seeking to make showed to be significant on predicting how many sources the individual reached to in order to make a better decision. The type of decision-making situation both influence the confidence level as well as how many sources are reached in order to improve that specific decision. Financial decisions result in a higher number of resources while personal decisions require the least. Decisions concerning people’s future stand in between the two other decision-making types.