What are the criteria for decision-making?Let's define decision making. Decision making is exactly what it sounds like it is the process or action of making decisions. While we may make rational choices sometimes, there are times where we make emotionally or uninformed choices that can be complicated. This article explains the reasons we make poor choices, and offers useful frameworks that can help you improve your decision-making skills. What are the reasons we make poor decisions I like to imagine myself as a rational person, but I'm not an empathetic person. The good thing is that it's not just me or you. We all are irresponsible. For a long time, researchers and economists believed that humans make rational, well-thought decisions. In recent decades, however scientists have discovered a wide range of mental mistakes that can impede our thinking. These articles provide a list of where we often go wrong and how to fix it. Common Mental Errors that Prevent you from making the right decisions Let's discuss the mental errors that show up most frequently in our lives. We'll break them down in easy-to-understand terms. This article will show the ways that survivorship bias, loss Aversion, Anchoring as well as confirmation bias and the availability heuristic may prevent you from making smart decision making. How to spot a common mental error that can lead to a Misguided Mindset: Hundreds of psychology studies have proven that we tend to underestimate the importance of events we can easily recall and underestimate the importance of the events that we have difficulty remembering. This small error is referred to as an "illusory correlation" by psychologists. This article will provide an easy method to uncover your hidden assumptions and avoid an illusionary correlation. Decide what choice you want to make before coin toss. Two Harvard professors have revealed the reason our brains are prone to put off tasks. It's because we are usually concerned about our current selves and not enough with the future self we will be like. If you want to beat procrastination and make better longer-term decisions, then you must find a way to make your present self behave in the best interests of the future. This article offers three easy methods to achieve this. How to Utilize Mental Models to Make Smart Decisions Learning mental models is the best way to increase your decision-making abilities through toss a coin. A mental model is a theory or framework that helps explain how the world works the way it does. Every mental model represents a theory that helps us make sense of the world, and provides a way of looking at the challenges of life. Learn more about mental models by reading Richard Feynman's Nobel Prize-winning article. You can also browse through the most influential mental models below. Top Mental Models to Improve Decision Making Margin of Safety: Always Be Prepared for the Unexpected How do you tackle difficult problems by using the Inversion Technique Bill Thurston and Elon Musk on Thinking for Yourself
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October 2021
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