From Annie Duke's "How to Decide" Why do you need to consult with other people to see things more objectively? “It works to your benefit to assume that you may not know as much as you think you do, that your beliefs may not be as accurate as you think they are, and...
Decision Making Articles
When should you make decisions slowly and when should you make decisions quickly?
From Annie Duke's "How to Decide" When should you make decisions quickly? When should you make decisions slowly? "The smaller the penalty, the faster you can go. The bigger the penalty, the more time you should take on a decision." "The smaller the impact of a poor...
The power of negative thinking.
From Annie Duke's "How to Decide" The power of negative thinking. "Negative thinking helps you identify things that might get in your way so you can identify ways to reach your destination more efficiently." (p. 212) "Gabriele Oettingen, a professor of psychology at...
How can you prevent outcome bias or resulting?
From Annie Duke's "How to Decide" How can you prevent outcome bias or resulting? First of all what is outcome bias or resulting? Outcome bias/Resulting- "a mental shortcut in which we use the quality of an outcome to figure out the quality of a decision." (p. 3) "When...
When you are trying to get other people’s opinion, don’t tell them your opinion.
From Annie Duke's book "How to Decide" When you are trying to get other people's opinion, don't tell them your opinion. "One of the best tools for improving your decision-making is to get other people's perspectives. But you can only do that if you get their actual...
Key takeaways from “How to Decide”
From Annie Duke's book "How to Decide." Key takeaways from "How to Decide" Beware of overconfidence. "The tendency toward overconfidence vexes decision-making. In general, we don’t question our own beliefs enough. We have too much confidence in what we think we know...
Why do you need to use the “outside view” or base rates to make decisions?
From Annie Duke's "How to Decide" Why do you need to use the "outside view" or base rates to make decisions? First of all, what is the "outside view"? The outside view- "What is true of the world, independent of your own perspective. The way that others would view the...
Why is it important to use probabilities in decision making?
From Annie Duke's book "How to Decide" Why is it important to use probabilities in decision making? "Adding probability estimates to the decision tree will significantly improve the quality of your decisions versus simply identifying the possibilities and your...
If you want to see reality, you must form a truthseeking group.
From Annie Duke "Thinking in Bets" In you want to see reality, you must form a truthseeking group. "Having the help of others provides many decision-making benefits, but one of the most obvious is that other people can spot our errors better than we can. We can help...
To make better decisions, make a bet or pretend you are making a bet.
From Annie Duke's book "Thinking in Bets" To make better decisions, make a bet or pretend you are making a bet. "“Wanna bet?” triggers us to engage in that third step that we only sometimes get to. Being asked if we are willing to bet money on it makes it much more...