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Investigating Indecision: Why We Can't Seem to Make Up Our Minds
The WRAP technique for decision making
- Widen your options: challenge yourself to consider alternatives.
- Reality-test your assumptions: run small experiments so you can know rather than predict which decision will work best for you.
- Attain distance before deciding with the try the 10/10/10 approach: How would you feel about this decision 10 minutes from now, 10 months from now, and 10 years from now?
- Prepare to be wrong: things could always go wrong. Prepare for it in advance.
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The 37%
Mathematics dictates that you should take 37% of the time or options you have to simply look and after that, you should commit to the first option that is better than everything you’ve seen so far.
That’s the point at which you have the highest chance—in a display of mathematical symmetry, it’s a 37% chance—of making the best choice.
The brain when we make decisions
The 2 systems of the brain that wok during decision making:
- System 1 is automatic and quick (like "something feeling off").
- System 2 is deliberate and slow (like an algorithm).
At times, these systems are at odds with each other, but research shows it's always best to trust an algorithm than your own gut.
Pros-and-cons lists are flawed
There are a few biases they don't address:
- Narrow framing: the tendency to view an option as your only option.
- Confirmation bias: our tendency to gather the information that supports our preferred option.
- Short-term emotion: our tendency to have our judgment clouded when emotions run high.
- Overconfidence: our tendency to make a decision with too much optimism about how things will play out.
The WRAP technique for decision making
- Widen your options: challenge yourself to consider alternatives.
- Reality-test your assumptions: run small experiments so you can know rather than predict which decision will work best for you.
- Attain distance before deciding with the try the 10/10/10 approach: How would you feel about this decision 10 minutes from now, 10 months from now, and 10 years from now?
- Prepare to be wrong: things could always go wrong. Prepare for it in advance.
Avoid making bad snap decisions
- Successful decision-making relies on a balance between deliberate and intuitive thinking.
- Opt for less information; stick to only what is essential. We may feel more confident when doing a lot of research, but this could lead to indecision and analysis paralysis.
Making snap judgments
Snap judgments are most accurate if these things are present: experience and expertise. In other words, we must train our intuition.
Actively managing delay
- Find out how much time you have to make the decision.
- Wait as long as possible to choose. By giving yourself extra time, you have more opportunities to explore your options and gain valuable insight.
This works best if you're a novice, as an expert generally won’t need to delay a decision.
Deciding how to decide
Take into considerations these things:
- Intuition is best used by experts, not novices.
- Algorithms are better at decisions than the human brain.
- Take your time (but not too much of it).
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The Freedom of Choice
The freedom of choice is generally perceived to be good, but studies show that too much choice can be a hindrance and can impede the decision.
On the contrary, having fewer choices has shown ...
Fear of Better Options
... or Maximization, is a behavioral trait that makes us look for all possible options before we decide so that we don't miss out on the best option and regret later, after making the decision.
We take into consideration all available options to minimize our frustration and stress.
Maximizers vs Satisficers
- Maximizers feel less satisfied even if they make better decisions, since they had so much choice, and choosing the best comes down to some sort of compromise.
- Satisficers: They are the people that make quick decisions with fewer options and that tend to be more satisfied.
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Every Decision In Life Becomes a Trade-Off
... 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...
Good and Bad Decisions
Decisions are a cost-benefit analysis of risking something small for the opportunity to gain something big.
- Good decisions can be: Exercising, meditating for 10 minutes daily, finding the courage and striking up a conversation with someone, applying for jobs that you may or may not get.
- Bad decisions can be: lying or pretending to someone, driving unsafely, sending angry text messages, or staying up late drinking before an important meeting or exam in the morning.
Trade-offs and Life Values
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.
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Subjective Evaluation In Interviews
On the employer’s side, the entire job interview process is subjective, from the shortlisting of applications to the screening phone call, and finally when the candidate is at the door.
The Interview Performance
- Usually, a typical job interview has the employer(s) sit in a room (or a video conference software) and make them answer unstructured questions, gauging their ability to charm them, and appear as the right fit by feeling like ‘one of the gang’. The candidate is selected or rejected based on how good he ‘performed’ on the interview day.
- Charisma can also be faked during an interview process, and the interviewer can be duped into hiring a wrong candidate who was able to manufacture charm and likeability to get selected. This makes hiring based on what is portrayed by the candidate to be inherently flawed.
Discrimination And Bias in Interviews
In an ideal world, the competence of a person should get him or her the job. In reality, bias gets in the way and is normally related to age, gender, race, appearance and even social class.
Another common mistake is to hire someone who is well-liked by the interviewer due to them being similar. This eventually narrows down the range of skill sets and diversity of thinking in the workplace.
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