"Top 10 ways to make better decisions" - NewScientist
by Philip Uglow
1. Don't fear the consequences
1.1. "loss aversion" - the belief that a loss will hurt more than a corresponding gain
1.2. Action point: Find someone who has made the same decision/choice and ask them how they felt.
2. Action Point: Go with your gut instinct
2.1. Decisions about trust, competence, aggressiveness and likeabilitiy are made within the first 100ms of seeing a new face.
2.2. You may make better choices if you don't consciously analyze the options
3. Consider your emotions
3.1. Emotions are integral to decision-making. Our emotional system is what allows us to evaluate options.
3.2. Action Point: All emotions affect our thinking and motivation, so it may be best to avoid making important decisions under their influence.
4. Play the devil's advocate
4.1. "Confirmation bias" is the process through which we delete information that does not support our point of view.
4.2. Action Point: Actively search for evidence that can prove you wrong.
5. Keep your eye on the ball
5.1. Random information in our environment has a large impact when making decisions with very limited data.
5.1.1. No Action Point
6. Don't cry over spilt milk
6.1. Sunk cost fallacy: the more you invest in something, the more you feel committed to it.
6.2. Action Point: Remind yourself that the past is that past and what is spent is spent.
7. Look at it another way
7.1. "Framing effect" is how alternatives are irrationally coloured by the way they are presented.
7.1.1. e.g. 90% fat free vs. 10% fat