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Brantley H.
@brarh235
The perfect nudge
Nudging involves gently coaxing someone into a decision or behavior. The successful nudge is one that results in the desired choice or behavior without the person realizing any external influence.
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Antonio V.
@antoniov502
How to Make Smarter Decisions by Designing Your Defaults
Default choices
90% of your daily decisions happen automatically, many shaped by your environment. Thus, most decisions are a habit, not a deliberate choice.
To make smarter choices, design smarter...
Designing your life
Design your life like a choice architect:
- Encourage smarter decisions you want to do by making them more accessible.
- Add friction to habits you want to quit, making them less accessible, or remove the option to perform them completely.
Richard Thaler
Cole Y.
@coly298
How to Make Difficult Decisions
Milton Friedman
Think in Years, Not Days
Before jumping to a conclusion, think about the long-term consequences of your decision.
We may respect those able to fling themselves into a hard problem and make a quick choice with seemingly little thought, but making a meaningful decision needs to be done with care for the long-term effects.
Understand Decision Fatigue
It’s important to be aware of what state of mind you’re in before tackling a hard choice.
Decision fatigue happens when the mental energy required to weigh the tradeoffs of our decision becomes too much for us to handle.
Brantley H.
@brarh235
Slow Down to Make Better Decisions in a Crisis
Decision-making obstacles
- The realness of the present threat: the new virus is really contagious and people are dying from ...
The pandemic and our biases
The threat, uncertainty, and anxiety related to the pandemic lead us to make short-sighted decisions:
- we crave more information so we are spending a lot of time looking for news updates relating to the virus and its spread. But too much negative news causes stress and distraction.
- the lack of agency causes people to seek out actions that will make them feel more in control. Early on, this took the form of buying hand sanitizer and rubbing alcohol.
Financial decisions
People want to take action quickly, even when inaction might be more prudent.
Faced with anxiety, some are making quick decisions about finances as well and started fear selling their stocks. But this is taking a paper loss in the present that is likely to come back in the future (given the way stock markets have acted in the past).
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