Why we make bad decisions

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Avatar for Booseh
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4 years ago

Humans make bad decisions because we are inherently terrible at objectively assessing risks and rewards. And as much as I’d love to tell you that we can overcome these psychological flaws with a really cute gimmick or three-step technique, the fact is that these flaws seem to be permanent features of how our minds work. We can’t escape them. The best we can do is gain an awareness of them and manage them appropriately.

I could write dozens of articles about all of the heuristics and biases that cause us to view our decisions inaccurately, but for the sake of brevity (and my sanity), I’ll lump our psychological failures into three categories and then summarize them.1

Those categories are:

The influence of our emotions

Our poor perception of time

The seduction of social status

Let’s take them one by one.

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Comments

Maybe if it is summarized into one starting from the influence of emotions, then it will influence perceptions and there will be an alignment of social status which is one reason there will be errors in choosing or making choices about decisions. Either positive or negative will of course be different and it is not certain to say it will be wrong I guess. ( Bytheway i shared it your post in my twitter account hope this can attract more viewer account at read.cash.)

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4 years ago