Explore Or Exploit? How To Choose New Opportunities
Not all of our explorations will lead to something better or be satisfying, but with enough exploration behind us, many of them will.
Failures provide us with useful information that will enable us to make better explore or exploit decisions.
SIMILAR ARTICLES & IDEAS:
Understanding probability will help you get a more correct picture of the world and help you make better decisions.
Most of us fall prey to the same handful of issues beca...
When two event are interconnected, the former happening increases or decreases the probability of the latter happening.
In Naked Statistics, Charles Wheelan explains: “A different kind of mistake occurs when events that are independent are not treated as such . . . If you flip a fair coin 1,000,000 times and get 1,000,000 heads in a row, the probability of getting heads on the next flip is still 1/2. The very definition of statistical independence between two events is that the outcome of one has no effect on the outcome of another.”
The spiral of silence is a human communication theory developed by Elisabeth Noelle-Neumann in the 1960s.
The theory explains how societies form shared opinions an how we make deci...
According to the theory of the spiral of silence, our desire to fit in with others means we will speak up if we think our opinion will be popular, or avoid expressing an opinion if it is unpopular.
The feedback loop means each time someone voices a popular opinion, the positive feedback from the group reinforces the feeling that it is safe to do so. Conversely, receiving a negative response for a divergent opinion will strengthen the view that they should avoid expressing it.
“Curiosity is antifragile, like an addiction; magnified by attempts to satisfy it.”
For developing the habits of reading, many follow the strategy of reading 25 pages a day, which can create your interest at a starting pace of time.
But while reading, if one finds reading joyful and interesting one can jump the stipulated limit of pages, accordingly.