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Brian
@bri_31
Areas with increased choices
- With too many options, people increasingly rely on recommendation engines to help them cope with choice.
- We pay more for the same stuff. To watch the good things on TV now involves paying monthly subscriptions to many services, where once you only had to pay a TV license.
- Privatization of companies leads to many companies offering the same service - but we still feel that we are possibly paying too much.
- Education becomes a consumer good.
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Connor H.
@conh359
Fear of Better Options (FOBO) is The Reason You Can't Make a Tough Decision
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.
Jason Z.
@jasonz17
Which one skill do most of us possess but not use enough?
Just Read
We all have this one skill we need to use more: we need to read more.
Reading builds up knowledge if done regularly, like compound interest.
Warren Buffett
Carson
@carson_61
Why It's Easier to Make Decisions for Someone Else
Cautious mindset vs. an adventurous mindset
- When choosing for ourselves, we focus more on a granular level, something we describe as a cautious mindset.
- When it came to deciding for...
A different mindset when choosing for others
We adopt an adventurous mindset that stands in contrast to the more cautious mindset that rears when people make their own choices.
We see the best solution with clarity and a decisiveness that is often absent when we face our own dilemmas.
Taking an outside perspective
We should work to distance ourselves from our own problems by adopting a fly-on-the-wall perspective and act as our own advisors.
Another distancing technique is to pretend that our decision is someone else's and visualize it from his or her perspective. By imagining how someone else would tackle your problem, people may unwittingly help themselves.
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