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Fear of Better Options (FOBO) is The Reason You Can't Make a Tough Decision

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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Fear of Better Options (FOBO) is The Reason You Can't Make a Tough Decision

Fear of Better Options (FOBO) is The Reason You Can't Make a Tough Decision

https://medium.com/swlh/fobo-fear-of-better-options-is-the-reason-you-cant-make-a-decision-294fb91c18f4

medium.com

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Key Ideas

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 to provide more satisfaction to the decision-maker.

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.

Too Much Choice

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.

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  3. Drowning in Data. Identify less than 10 pieces of relevant data that will have a strong impact on your decision's outcome. Then forget everything else.
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Tradeoffs
Every decision we take, has a tradeoff, an opportunity cost. Instinctively we try the all-out approach, resulting in failure.
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Striving for Everything

A tradeoff is inevitable in almost every decision we take, as we usually forego some opportunity or benefit in our choices.

Many people strive for everything and believe there are no tradeoffs.

Focussing on less can get you something but focusing on everything may get you nothing.

Having "Everything"

We seem to think that the people around us have everything in life.

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4 more ideas

FOBO: Fear of Better 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...

Technology accelerates FOBO

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.

Decision-making people: Maximisers

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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