Risk-Based Decisions
When someone is a self-proclaimed realist, or simply pessimistic by nature, decisions are often made considering only one factor: risk.
Faced with a decision, they ask themselves questions such as:
- What is the worst possible outcome?
- What do I need to protect myself against?
- If this doesn’t go as planned, how will I respond?
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3. Ask Yourself The Right Questions
I have a handful of questions I ask myself before making decisions:
- What are the economic ramifications in terms of risk and opportunity cost of not doing something?
- How can I mitigate both?
- What is the worst that can happen?
D. Decisions related to ethical issues
Decide what is the best thing to do when faced with moral issues, considering questions like:
- Would I mind my action being broadcast on the six o’clock news?
- Could I justify my actions to my family and close friends?
- What advice would I give to a close friend who...
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