Learn more about problemsolving with this collection
How to create a productive environment
The importance of self-care in productivity
How to avoid distractions
A risky world
Risk is part of our lives and cannot always be avoided. We have to cross streets or drive in cars.
When we are faced with a risky situation, we can make a better choice when we consider the odds as well as the payoff.
177
305 reads
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Expected value
We all spend time making decisions with some risk involved. We look at each situation and consider the likelihood that something will happen as well as if it would be worth it.
For example, whether to sprint across the street when the sign says “don’t walk.”
Expected value...
267
473 reads
The cost or payoff
The cost or payoff is not always clear.
For example, people feel more pain from the loss of a dollar than pleasure from a dollar gained. It is called loss aversion.
The prospect theory combines the ideas of loss aversion and over- and under-weighing the...
227
320 reads
Calculating the odds
Part of the expected value is estimating the chance or probability of the situation.
Many people have poor judgement calculating real probabilities. They overstate the chance of rare events and underestimate the possibility of common events.
For example, many people d...
197
298 reads
CURATED FROM
CURATED BY
Whenever I have a problem I just sing, then I realize my voice is worse than my problem
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Expected value
We all spend time making decisions with some risk involved. We look at each situation and consider the likelihood that something will happen as well as if it would be worth it.
For example, whether to sprint across the street when the sign says “don’t walk.”
Expected value...
Respond In A New Way
Life will only get better when we respond to it in a better way.
We need to respond better towards our life situations, as that is also part of our growth, learning, and the wisdom we have attained. Life is not static, and neither should be our response towards it. Our wea...
Suppressing Emotions
We usually adopt cold and technical solutions to the problems being faced by the world, with little regard to 'unstable' feelings like passion and emotion. As a species, we have always suppressed our emotions (the heart) seeing them as a roadblock and worked with dispassionate calculations ...
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