Strategies and tactics for making better decisions
One of the most important and surprising things I’ve learned about decision-making is that we rely on, even require gut feelings to make important decisions about the future. Naqiv, et. al. (2006) write about findings in neuroscience that support the somatic-marker hypothesis, which suggests that when we make decisions under uncertainty, we choose among different … Read more
There are three things we need to make wise and rational decisions with confidence: time, information and smarts. Unfortunately, as mere humans, we know that these resources are in short supply. Indeed, the vast range of choices we have to make daily and the overwhelming influx of information and stimuli can limit or confuse all … Read more
My college-era friends enjoy reminding me of the time decades ago when I sent the waiter at a fancy restaurant away several times as I struggled to select an entrée from the menu. It was an important decision for me: the dinner out was a rare splurge to celebrate graduation with close friends who were about … Read more
My favorite article this week was Why Introverts Make Great Entrepreneurs, (WSJ) for three reasons: 1) it dispels the myth (which I held) that an entrepreneur must be extraverted; 2) it summarizes the relative strengths that introverts bring to business leadership, which can apply equally well to decision making in general and 3) It quotes Susan Cain, the author … Read more
The Atlantic recently ran this terrific article by Jonathan Rauch about the nearly universal u-shaped path of happiness that most humans and some primates follow: Happiness starts relatively high in early adulthood, declining steadily until late 40s or early 50s, when it picks up again until the final years. It appears to be much more … Read more
We can we improve our ability to make wise choices in business and personal life by better understanding our brains and setting up conditions conducive to good decision-making. A good example is when we are confronted with a major life decision such as whether to seek (or accept) a new job. While few would argue this … Read more