People Sacrifice Money for Control: Study on Decision Delegation Tendencies
People often have to decide whether to make their own choices or let someone else decide for them. A study found that people are willing to give up money in order to have control over their own outcomes, even when they know they could get more money by letting someone else decide. This isn't because they think they're better at making decisions, but because they value having the choice itself. People are aware that they're not making the best decisions, but they do it anyway because it makes them feel better.