Saturday, December 31, 2011

tips for decision-making

From an interesting article over at the 99%, here are the 5 takeaways:

1. Satisficers or maximisers? Gathering additional information always comes at a cost. We’re better off setting our criteria for making a decision in advance (as in, “I’ll make the call once I know X, Y, and Z”). Once you have that information, make the choice and move on.

2. Less can be more. We are designed to process information so quickly that "rapid cognition" – decisions that spring from hard thinking based on sound experience – can feel more instinctive than scientific. Trust your gut.

3. Different intuitions. We should trust our expert intuition (based on experience) when making choices about familiar problems. But when we need a break-through solution, we shouldn’t be too quick to jump to conclusions.

4. Trust experience. If you’re wrestling with a difficult decision, consult a friend or colleague who’s been in your situation before. Their insight will likely be significantly more valuable than almost any research.

5. Choose your battles. Ask yourself if this decision is really that meaningful. If it’s not, stop obsessing over it, and just make a call!

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