Common decision making pitfalls - Deepstash

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These Six Questions Will Improve Your Decisions - Darius Foroux

Common decision making pitfalls

  • Analysis paralysis is very common. At some point, you get stuck in the process and can't make a decision. Don't let the fear of making the "right" decision paralyze you. There's no right or wrong outcome. Just outcomes.
  • Extinction by instinct. It is the belief that instincts are effective in decision making. However, it leads to rash decisions.
  • Information overload is when you ask too many people for their opinion. Stick to trustworthy sources and keep them to a minimum.

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  1. Monumentalizing the Trivial. Place a limit on how long you're willing to spend addressing the issue. When the time ends, make your choice and move on.
  2. Dredging Sunk Costs. Estimate how much the decision would take in total to follow through. If the cost is higher than the benefit, change your decision.
  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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Pretend You're Advising a Friend

Think outside yourself a little and pretend like you're offering advice. 

The reasoning here is really simple: your short-term emotions get in the way of decisions, and that clouds yo...

Limit The Information You Take In

We usually believe that the more information you have, the better decisions we can make. However, at some point, we cross a threshold where we have too much information. That's when we start to fill in gaps and add weight to information that doesn't matter. 

This makes decision making way more difficult.

Reverse Your Assumptions

You're so prone to continue making the same kind of choices throughout your life that challenging yourself and doing the exact opposite is often the best way to get around this problem. 

The idea here is to confront your default behavior, step outside your comfort zone, and use your imagination to test some completely new ideas.