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: Loss Aversion
“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,
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.