Over 25 years of moves & broken things in the Air Force, one of the best pieces of advice I got was to never cry over things that can’t cry over me. It’s now number 13 of my 19 Life Principles. Two mental biases help explain why it’s hard for us to do this: Endowment
Tag: Behavioral Economics
“Is that your final answer?” That famous phrase heard worldwide in different languages on the wildly popular game show “Who Wants To Be a Millionaire?” meant that the time had come to make a final decision. Viewers sweated and felt the knotted stomach of emotional tension in the contestant. In my previous articles on decision-making,
On 18 April 2018, Southwest Airlines Flight 1380 was passing 32,500 feet altitude, bound for Dallas from New York. Passengers heard and felt a large explosion, a sudden depressurization, and rapid turn and descent. A passenger was sucked half-way out of a blown-out window, severely injured from explosion shrapnel. In the chaos, the aircrew managed
Our own brains can battle against effective decision-making because of cognitive biases. Limited models in our minds and unconscious efforts to take the easy and obvious road skew our view of the world of possibilities we should consider in a decision. But these 5 methods help us open up our options for better solutions.
We like to think we make reasonable, rational decisions…but there are many more pitfalls than we realize leading to irrationality. The first step in avoiding those traps is being aware of them. Come take a look at our complex mind, and how we often deceive ourselves.
Setting goals can be the first step of turning dreams into reality. We’ll see more success when we set the right goals properly and use these principles to achieve them.