Learn more about timemanagement with this collection
Understanding the importance of decision-making
Identifying biases that affect decision-making
Analyzing the potential outcomes of a decision
We tend to underestimate the time it will take to complete a future task despite knowing that previous tasks have taken longer.
What you can do about it:
1.21K
2.91K reads
MORE IDEAS ON THIS
Economists used to believe that people will always choose the option that maximizes their well-being. But people act against their rational self-interest all the time.
We procrastinate and eat junk food and say yes to the things we don't have time for. Two Israeli psycholo...
1.19K
6.85K reads
This effect describes our tendency to remember incomplete or interrupted tasks better than completed tasks. Each unfinished task takes up some of your attention, splitting your focus. It also interferes with your sleep.
What you can do about it:
1.31K
3.68K reads
This bias addresses why we do unimportant tasks we think are time-sensitive over tasks that are not time-sensitive, even if the non-time-sensitive tasks provide greater rewards.
How to overcome this bias:
1.32K
4.9K reads
We want to finish what we've started because of previously invested resources, even if it is better to quit and use our limited resources elsewhere for better returns.
What you can do about it:
1.17K
2.57K reads
We quickly return to a relatively stable level of happiness despite positive or negative external events. We pursue a promotion and believe it will make us happy. When we get it, we are temporarily happier, only to get back to our baseline levels the next week.
1.18K
2.45K reads
We tend to choose a smaller, immediate reward over a larger reward in the future. For example, playing video games is more enjoyable than writing or coding or designing.
What you can do about it:
1.21K
2.35K reads
We are inclined to believe that complex solutions and explanations are better than simple ones. The perception of complexity often leads to avoidance.
What you can do about it:
1.14K
2.29K reads
CURATED FROM
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Other curated ideas on this topic:
The planning fallacy is the likelihood to underestimate the time it will take to finish a future task despite knowing that similar projects have taken longer in the past. For example, writers underestimate how long it will take to complete a novel; product managers miscalcula...
Is our tendency to underestimate the amount of time it will take to complete a task. Estimation mistakes can usually be attributed to 2 key factors:
The term 'planning fallacy' was coined in 1977 and deals with how most of us are terrible at estimating how long a project will take. We are overly optimistic but terrible at predicting the future. If the project has a budget, we may underestimate that expense to...
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