Fear of Better Options (FOBO) is The Reason You Can't Make a Tough Decision
... 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.
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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 to provide more satisfaction to the decision-maker.
A decision-maker may never be able to examine every possible option before making a decision. The assumption that one now has complete information for decision making is in itself somewhat unrealistic.
Satisficers make their life easier and less complicated by accepting good enough and moving on.
SIMILAR ARTICLES & IDEAS:
Decision making is critical for entrepreneurs. Every day, you have to set out on a course of action, choose tactics, evaluate results, and otherwise choose from arrays of options.
Whether it is deciding what to watch on TV, or which job offer to accept, Fobo (Fear of better options) can affect anyone.
A Fobo-afflicted person may not make a decision due to wanting compl...
Sophisticated apps and social media only accelerate FOBO, giving us unlimited options. We are unable to decide due to a constant flow of new plans, events, invitations or commitments.
Maximisers compare everything before making a decision, setting very high standards and expectations for themselves.
They often feel disappointed with their final decision after making it.
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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 ...
The 2 systems of the brain that wok during decision making:
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.
There are a few biases they don't address:
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