This article, in the field of behavioral economics, deals with the impact of technology on the human decision-making process. Many companies worldwide offer technologies (platforms, devices, search engines, etc.) that purport to help a person in the various phases of decision making but still leave the final decision in the hands of the human being. Technologies may help a person make more intelligent and informed decisions, but they may also expose a person to many decision-making biases. We review the leading factors that cause decision-making biases due to the use of technologies and build a theoretical model for analyzing technologies that examines the feasibility of using them for decision making. We also demonstrate the implementation of this model on products of four well-known companies: Google, ProQuest, MobilEye, and Waze. Our model contributes to the literature on the impact of technology on human decision making and provides an important basis for future research on this topic.
Bibliographical notePublisher Copyright:
© 2021 Wiley Periodicals LLC.
- behavioral economics
- decision making