Decision-Making and Life Satisfaction: The Role of General Decision-Making Styles and Maximizing Tendency as Predictors
Keywords:decision-making styles, general decision-making styles, maximizing, satisficing, life satisfaction
Previous studies have researched many factors that predict life satisfaction. However, research that focuses on testing the role of decision-making on life satisfaction is still limited, even though almost every aspect of human life involves decision-making and the results can determine one's life situation. There were prior studies attempted to explore the relationships between life satisfaction and decision making, however the results are not conclusive. Therefore, this study aims to test the relationship between decision-making styles and life satisfactions. Convenience sampling used in data collection, and there were 154 university students participated in this study. This study uses a cross-sectional survey design to test the research hypothesis. The survey consisted of research information, informed consent, demographic, and measuring instrument for research variables. Decision making styles measured using General Decision-Making Styles (Scott & Bruce, 1995) and Maximizing Scale (Schwartz et al., 2002).Life satisfaction measured using Satisfaction with Life Scale (Diener et al., 1995). The result of multiple linear regression analysis shows that rational decision-making style and tendency to satisfice significantly predict higher level of life-satisfaction, while spontaneous decision-making style and tendency to maximize predict lower level of life-satisfaction. On the other hand, intuitive, dependent, and avoidant decision-making style do not significantly predict life-satisfaction. The implication and direction for future research are discussed.
Abubakar, A. M., Elrehail, H., Alatailat, A., & Elç, A. (2019). Knowledge management, decision-making style and organizational performance. Journal of Innovation & Knowledge, 4, 104–114. https://doi.org/10.1016/j.jik.2017.07.003
Appelt, K. C., Milch, K. F., Handgraaf, M. J. J., & Weber, E. U. (2011). The decision making individual differences inventory and guidelines for the study of individual differences in judgment and decision-making research. Judgment and Decision Making, 6(3), 252–262.
Arad, A. (2013). Past decisions do affect future choices: An experimental demonstration. Organizational Behavior and Human Decision Processes, 121(2), 267–277. https://doi.org/10.1016/j.obhdp.2013.01.006
Bavol’ár, J., & Orosová, O. (2015). Decision-making styles and their associations with decision-making competencies and mental health. Judgment and Decision Making, 10(1), 115–122.
Bavolar, J., & Bacikova-Sleskova, M. (2020). Decision-making styles and mental health—A person-oriented approach through clustering. Journal of Behavioral Decision Making, 33(5), 629–642. https://doi.org/10.1002/bdm.2183
Bazerman, M. H., & Moore, D. (2016). Judgment in managerial decision making (9th ed.). Wiley.
Beja, E. L. (2019). Maximizing versus satisficing: Negative correlation between maximizing attitude and school domain satisfaction. The American Economist, 64(1), 95–101. https://doi.org/10.1177/0569434518792681
Bruine De Bruin, W., Parker, A. M., & Fischhoff, B. (2007). Individual differences in adult decision-making competence. Journal of Personality and Social Psychology, 92(5), 938–956. https://doi.org/10.1037/0022-35188.8.131.528
Deniz, M. E. (2006). The relationships among coping with stress, life satisfaction, decision-making styles and decision self-esteem: An investigation with Turkish university students. Social Behavior and Personality, 34(9), 1161–1170. https://doi.org/10.2224/sbp.2006.34.9.1161
Diab, D. L., Gillespie, M. A., & Highhouse, S. (2008). Are maximizers really unhappy? The measurement of maximizing tendency. Judgment and Decision Making, 3(5), 364–370.
Dijksterhuis, A., & Nordgren, L. F. (2006). A theory of unconcious thought. Perspectives on Psychological Science, 1(2), 95–109.
Gori, A., Topino, E., & Di Fabio, A. (2020). The protective role of life satisfaction, coping strategies and defense mechanisms on perceived stress due to COVID-19 emergency: A chained mediation model. PLoS ONE, 15(11), 1–11. https://doi.org/10.1371/journal.pone.0242402
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2018). Multivariate data analysis (8th ed.). Cengage Learning.
Harren, V. A. (1979). A model of career decision making for college students. Journal of Vocational Behavior, 14(2), 119–133. https://doi.org/10.1016/0001-8791(79)90065-4
Iyengar, S. S., Wells, R. E., & Schwartz, B. (2006). Doing better but feeling worse: Looking for the “best” job undermines satisfaction. 17(2), 143–150. http://www.jstor.org/stable/40064385
Kahneman, D. (2003). Maps of bounded rationality: Psychology for behavioral economics. The American Economic Review, 93(05), 1449–1474. https://doi.org/10.1257/000282803322655392
Kahneman, D. (2010). The riddles of experience vs. memory. Video. http://www.ted.com/talks/daniel_kahneman_the_riddle_of_experience_vs_memory?embed=true
Krejcie, R. V., & Morgan, D. W. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30, 607–610.
Lai, L. (2010). Maximizing without difficulty: A modified maximizing scale and its correlates. Judgment and Decision Making, 5(3), 164–175.
Larsen, R. J., Diener, E., & Emmons, R. A. (1985). An evaluation of subjective well-being measures. Social Indicators Research, 17(1), 1–17. https://doi.org/10.1007/BF00354108
Marewski, J. N., Gaissmaier, W., & Gigerenzer, G. (2010). Good judgments do not require complex cognition. Cognitive Processing, 11(2), 103–121. https://doi.org/10.1007/s10339-009-0337-0
Michalos, A. C. (1985). Multiple discrepancies theory (MDT). Social Indicators Research, 16(4), 347–413. https://doi.org/10.1007/BF00333288
Moyano-Díaz, E., Martínez-Molina, A., & Ponce, F. P. (2014). The price of gaining: Maximization in decision-making, regret and life satisfaction. Judgment and Decision Making, 9(5), 500–509.
Newman, D. B., Schug, J., Yuki, M., Yamada, J., & Nezlek, J. B. (2018). The negative consequences of maximizing in friendship selection. Journal of Personality and Social Psychology, 114(5), 804–824. https://doi.org/10.1037/pspp0000141
Páez-Gallego, J., Gallardo-López, J. A., López-Noguero, F., & Rodrigo-Moriche, M. P. (2020). Analysis of the relationship between psychological well-being and decision making in adolescent students. Frontiers in Psychology, 11(July). https://doi.org/10.3389/fpsyg.2020.01195
Parker, A. M., Bruine de Bruin, W., & Fischhoff, B. (2007). Maximizers versus satisficers: Decision-making styles, competence, and outcomes. Judgment and Decision Making, 2(6), 342–350. papers2://publication/uuid/5534F0AC-DFF2-4F95-B8CA-18784C194F33
Parker, A. M., Bruine de Bruin, W., & Fischhoff, B. (2015). Negative decision outcomes are more common among people with lower decision-making competence: An item-level analysis of the Decision Outcome Inventory (DOI). Frontiers in Psychology, 6(APR), 1–7. https://doi.org/10.3389/fpsyg.2015.00363
Peng, S. (2013). Maximizing and satisficing in decision-making dyads [University of Pennsylvania]. https://repository.upenn.edu/cgi/viewcontent.cgi?article=1101&context=wharton_research_scholars
Pethtel, O. (2012). Decision-making competence, life regrets, and subjective well-being [Bowling Green State University]. https://scholarworks.bgsu.edu/psychology_diss/81/
Phillips, S. D., Christopher-Sisk, E. K., & Gravino, K. L. (2001). Making career decisions in a relational context. The Counseling Psychologist, 29(2), 193–214. https://doi.org/10.1177/0011000001292002
Podsakoff, P. M., MacKenzie, S. B., Lee, J. Y., & Podsakoff, N. P. (2003). Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies. Journal of Applied Psychology, 88(5), 879–903. https://doi.org/10.1037/0021-9010.88.5.879
Rim, H. B. (2012). Maximizing, satisficing and their impacts on decision-making behaviors. Ohio State University.
Salo, I., & Allwood, C. M. (2011). Decision-making styles, stress and gender among investigators. Policing, 34(1), 97–119. https://doi.org/10.1108/13639511111106632
Schwartz, B. (2000). Self-determination: The tyranny of freedom. American Psychologist, 55(1), 79–88. https://doi.org/10.1037/0003-066X.55.1.79
Schwartz, B. (2004). The paradox of choice: Why more is less. Harper Collins.
Schwartz, B., Ward, A., Lyubomirsky, S., Monterosso, J., White, K., & Lehman, D. R. (2002). Maximizing versus satisficing: Happiness is a matter of choice. Journal of Personality and Social Psychology, 83(5), 1178–1197. https://doi.org/10.1037/0022-35184.108.40.2068
Scott, S. G., & Bruce, R. A. (1995). Decision-making style: The development and assessment of a new measure. Educational and Psychological Measurement, 55(5), 818–831. https://doi.org/10.1177/0013164495055005017
Simon, H. A. (1955). A behavioral model of rational choice. Quarterly Journal of Economics, 59, 99–118.
Singh, R., & Greenhaus, J. H. (2004). The relation between career decision-making strategies and person-job fit: A study of job changers. Journal of Vocational Behavior, 64(1), 198–221. https://doi.org/10.1016/S0001-8791(03)00034-4
Spicer, D. P., & Sadler-Smith, E. (2005). An examination of the general decision making style questionnaire in two UK samples. Journal of Managerial Psychology, 20(2), 137–149. https://doi.org/10.1108/02683940510579777
Tabachnick, B. G., & Fidell, L. S. (2013). Using multivariate statistics (6th ed.). Pearson.
Thunholm, P. (2004). Decision-making style: Habit, style or both? Personality and Individual Differences, 36(4), 931–944. https://doi.org/10.1016/S0191-8869(03)00162-4
Thunholm, P. (2008). Decision-making styles and physiological correlates of negative stress: Is there a relation?: Cognition and Neurosciences. Scandinavian Journal of Psychology, 49(3), 213–219. https://doi.org/10.1111/j.1467-9450.2008.00640.x
von Neumann, J., & Morgenstern, O. (1944). Theory of games and economic behaviour. Princeton University Press.
Copyright (c) 2022 Meylisa Permata Sari
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)