From "Smart Choices" by John Hammond Here is a real estate example from "Smart Choices" "Darlene and Drew started with an overly narrow problem definition: ‘‘How do we renovate?’’ Their trigger was the need for additional space to accommodate the new baby. At the...
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Psychological Traps
From Howard Raiffa's "Smart Choices" Psychological Traps "By familiarizing yourself with them and the diverse forms they take, you’ll be better able to ensure that the decisions you make are sound and reliable. The best protection against these traps is awareness."...
Key takeaways from “Smart Choices”
From Howard Raiffa's book "Smart Choices" Key takeaways from "Smart choices" "The only way to really raise your odds of making a good decision is to learn to use a good decision-making process—one that gets you to the best solution with a minimal loss of time, energy,...
Flex Your Market Power
From Gabriel Weinberg's book "Superthinking" Flex Your Market Power Arbitrage- "When you take advantage of price differences for the same product in two different settings." Sustainable competitive advantage- "describes a set of factors that give you an advantage over...
Unlocking People’s Potential
From Gabriel Weinberg's book "Superthinking" Unlocking People's Potential "Both Joy and Rumsfeld acknowledge that organizations hardly ever have perfect resources, nor can they always afford to wait until they have better ones before moving forward. Joy’s law further...
Dealing with Conflict
From Gabriel Weinberg's book "Superthinking" Dealing with Conflict "arms race. The term was originally used to describe a race between two or more countries to accumulate weapons for a potential armed conflict. It can also be used more broadly to describe any type of...
Decisions, Decisions
From Gabriel Weinberg's book "Superthinking" Decisions, Decision "grass-is-greener mentality, causing you mentally to accentuate the positives (e.g., greener grass) and overlook the negatives." "One simple approach to improving the pro-con list is to add some numbers...
Lies, Damned Lies, and Statistics
"Superthinking," by Gabriel Weinberg Lies, Damned Lies, and Statistics "It is human nature to use past experience and observation to guide decision making, and evolutionarily this makes sense. If you watched someone get sick after they ate a certain food or get hurt...
Becoming One With Nature
"Superthinking," by Gabriel Weinberg Become One with Nature “It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment...
Spend Your Time Wisely
"Superthinking," by Gabriel Weinberg Spend Your Time Wisely "In the business world, there is a mental model that draws on Polaris for inspiration, called north star, which refers to the guiding vision of a company. For example, DuckDuckGo’s north star is “to raise the...