There are other real life examples which indicate that individuals and businesses are affected by cognitive dissonance. People usually forego personal beliefs and what they think is correct to match group norms so they could be seen as members of that group which implies decisions made on cognitive dissonance. As most people are optimistic about their investments even in poor economic conditions they tend to hold on to stocks with the expectations that the stock market will eventually recover.
When eventually they do sell these stocks they are acting against their own belief that the market will recover. When there are conflictions in personal characteristics such as behavior and attitude the level of dissonance is highest and people tend to make decisions based on historical patterns rather than newer ideologies. This entails that people make decisions based on incentives or benefits they derive from the actual shift. If this amount is significant then a person may change based on higher benefits derived from the change. Cognitive dissonance can be used in various real life instances either to motivate or prevent people from acting in a particular way.
This is just a sample term paper for marketing purposes. If you want to order term papers, essays, research papers, dissertations, case study, book reports, reviews etc. Please access the order form.