Humans don’t think about all their alternatives when they contemplate an offer. Say that a city planning commission proposes building a sports arena on an empty lot. Supporters make the case that the arena would create jobs and generate revenue. They ask voters to decide between a vacant lot and an arena, but they don’t mention other options, like building a school. Making informed decisions means letting go of either-or choices. Ironically, modern people suffer from too many options. That’s the “paradox of choice.”
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Dobelli shared some common thinking mistakes. Knowing these errors won’t help you avoid them completely, but it will help you make better decisions – or at least teach you where you slipped.
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