University course choice and the use of heuristics and biases as decision making mechanisms: a study in Brazil

Abstract

The choice of a higher education course is one of the most important decisions individuals make, as it usually directs the choice of career or profession. Therefore, it is a complex decision, and it is thus possible that young individuals rely on heuristics and biases to facilitate the decision-making process. Considering that, we explored whether and how heuristics and biases affected college students’ judgments and decisions regarding courses. We developed a questionnaire and applied it to a sample of students in Brazil, and we analyzed the collected data using CATPCA and additional statistical methods. We found that students suffered from sunk-cost bias, in addition to the anchoring and representativeness heuristics. Additionally, we found no evidence of a framing effect. We conclude that heuristics and biases were relevant factors in students’ judgments and decisions, but they did not dominate them, operating, instead, in conjunction with traditional aspects of analysis and choice.