Economics

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Student’s name: Tutor’s name: Course: Date due: Decision making Introduction Every individual tends to make a decision depending on how the situation at hand is. Some predictably change their behaviors when faced with a situation. As indicated under nudge, the individual doesn't forbid any option or even change his or her economic incentives. In this context, the purpose of Gladwell's blink moments, nudge moment and system 1 and system 2 helps in explaining how an individual makes a decision depending on the situation. In all the cases, one's judgment is based on the condition that lies in front of him or her. System 1 refers to the system of the mind that operates faster and automatically with no or little effort without the sense of deliberate control.System 2 involves the attention being allocated to the mental activities which demand it. The events include complex computations with system 2 operating in association with the individual’s experience of choice, concentration, and agency (Kahneman & Tversky, 21). According to Kahneman and Tversky, system 2 involves how individuals think about themselves in making choices, how they decide on what they think about and do and the beliefs they have. System 1 mainly generates the surprisingly intricate patterns of individual's ideas. When system 1 develops such habits of ideas, system 2 constructs the ideas in an orderly series of steps (Kahneman & Tversky, 21). An example of system 1 involves an individual reacting to a threat before even recognizing it. An example of system 2 includes when an individual slows down when angry and then reasons out before making a decision. Nudge moments are based on

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