Audio available in app
Our decisions are influenced by biases and emotions from "summary" of Predictably Rational? by Richard B. McKenzie
When we make decisions, we often like to think that we are being rational and logical. We believe that we are weighing all the options carefully and choosing the best course of action based on objective facts and evidence. However, the reality is that our decisions are often influenced by biases and emotions that we may not even be aware of. One of the main biases that can affect our decision-making is the confirmation bias. This bias leads us to seek out information that confirms our existing beliefs and ignore information that contradicts them. As a result, we may make decisions based on incomplete or biased information, rather than considering all the available evidence. Another common bias is th...
Similar Posts
Analyze information
The habit of critical thinking involves the ability to analyze information effectively. This means carefully examining data, ev...
Setting clear financial goals can provide direction and motivation for achieving them
When it comes to managing money, having a clear sense of direction is crucial. Setting specific financial goals can act as a gu...
Personal space reflects comfort level
The distance at which a person stands or sits in relation to others can reveal a lot about their comfort level in a particular ...
Neurotransmitters influence mood and behavior
Neurotransmitters are chemicals that carry messages between neurons in the brain. These chemicals play a crucial role in influe...
Avoiding difficult ideas hampers growth
Avoiding difficult ideas hampers growth because it prevents individuals from being exposed to challenging or uncomfortable conc...
Build a resilient mindset
To navigate the unpredictable nature of business, it is essential to cultivate a mindset that is resilient in the face of chall...
Understanding financial statements is key to evaluating a company's performance
To truly grasp a company's performance, one must delve into the realm of financial statements. These documents serve as the pul...
Financial independence comes from living below your means
Financial independence is a goal that many people aspire to achieve. It is the freedom to live the life you want without being ...
Remember the importance of anchoring in negotiations
In negotiations, the concept of anchoring plays a crucial role in shaping the outcome of the discussion. Anchoring refers to th...
Loss aversion is a key concept in behavioral finance
Loss aversion, a central concept in behavioral finance, refers to the idea that individuals feel the pain of losses more intens...