5 Expert-Approved Ways to Make Smarter Decisions - Deepstash
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Decision making and biases

Decision making and biases

Experts have known for a while that our decision-making processes are flawed — and often in predictable ways. We easily succumb to all sorts of biases that prevent us from making smart choices.

165

899 reads

Mental time travel

A common decision-making problem is failing to have enough imagination with regards to what could go wrong or falling victim to simple overconfidence. 

Envision the future. There’s evidence that this exercise can broaden your outlook and highlight problems that might not come to mind otherwise.

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Don’t make an important decision

... when you're hungry, or sleepy, or angry.

Research has shown that our susceptibility to bias increases when we’re stressed, whether because of exhaustion, hunger, or a heightened emotional state.

Delaying a crucial decision, if possible, might be preferable to making it under conditions of stress.

210

617 reads

Estimate twice, decide once

When it comes to decisions, conduct whatever research you need to and make your estimate — and then go through the whole thing again, generating a second estimate. Take the average of the two estimates, and you’ll likely make a better decision than you would if you used either on its own. 

199

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Use a “planning prompt”

When it comes to situations where the benefits of a good decision lie in the future (reduced weight) but compelling temptations to make bad decisions are all too present (nachos), writing down a specific plan of attack can be helpful. 
It can help decision-makers avoid follow-through failures due to both procrastination and forgetfulness.

183

668 reads

Decide in advance

For a wide range of decisions involving self-restraint, there’s pretty overwhelming evidence that most people are bad at making healthy in-the-moment choices.

Decide well in advance of the moment when those decisions will take effect. Present You, at the supermarket after a meal, is probably a better nutritional decision-maker than Future You, standing in front of the fridge, inexplicably starving at 3 a.m.

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