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People who are told that the risk of something bad happening is lower than they expected, tend to adjust their predictions to match the new information. But they ignore the new information when the risk is higher.
Part of this overly optimistic outlook stems from our natural tendency to believe that bad things happen to other people, but not to us.
Sometimes we make poor comparisons or the compared items are not representative or equal.
We often decide based on rapid comparisons without really thinking about our options. In order to avoid bad decisions, relying on logic and thoughtful examination of the options can sometimes be more important than relying on your immediate "gut reaction."
To make decisions quickly and economically, our brains rely on cognitive shortcuts known as heuristics. Heuristics allow us to make judgments quickly and often accurately, but they can also lead to fuzzy thinking and poor decisions.
To minimize the potential negative impact of heuristics on your decisions, become more aware of them.
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Before jumping to a conclusion, think about the long-term consequences of your decision.
We may respect those able to fling themselves into a hard problem and make a quick choice with seemingly little thought, but making a meaningful decision needs to be done with care for the long-term effects.
It’s important to be aware of what state of mind you’re in before tackling a hard choice.
Decision fatigue happens when the mental energy required to weigh the tradeoffs of our decision becomes too much for us to handle.
... and boils down to what we give up to attain something. Our mindsets are inclined towards pleasure and resistive towards pain. We normally like to think in terms of gai...
Decisions are a cost-benefit analysis of risking something small for the opportunity to gain something big.
Trade-offs are not something as simple as flipping a coin. Our values guide us towards what we want in life, and it is not the same for all. Example: Buying a house has a trade-off of mortgage for the next ten or more years. This is subjective and depends on what we value in life.
Indecisive people suffer because they don’t know their inner values and what they care about.
Being aware of the constant dance between emotions and feelings could improve your decision-making ability.
We need to understand how any particular emotion (root cause) will translate into a feeling (symptom).
The six emotions are broad categories, while the feelings are specific to describe what is going on in our bodies. For instance, disgust (emotion) may result in 'loathing' or 'detestable' feelings.
When you have to make a decision, always track your feeling to the resulting emotion to find the root cause.