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Be wary of the illusion of control from "summary" of The Art of Thinking Clearly by Rolf Dobelli
A common mistake we often make is the belief that we have more control over situations than we actually do. This illusion of control can lead us to overestimate our ability to influence outcomes, causing us to take unnecessary risks or make poor decisions. When we feel like we are in control of a situation, we tend to be more confident in our actions, even when the reality is that the outcome is largely determined by chance or outside factors. This false sense of control can be dangerous, as it can lead us to ignore warning signs or dismiss important information that could affect the outcome. For example, in the world of investing, many people believe that they can beat the market through their superior knowledge or skill. However, research has shown that even seasoned professionals struggle to consistently outperform the market, highlighting the limited control we actually have over investment outcomes. Similarly, in everyday life, we may believe that we can control how others perceive us or how events will unfold. This can lead to disappointment and frustration when things don't go as planned, as we fail to recognize the role that randomness or external factors play in shaping our lives. By being aware of the illusion of control, we can make more informed decisions and avoid unnecessary risks. Instead of relying on our perceived ability to influence outcomes, we should focus on factors that we can actually control, such as our own actions and reactions.- Accepting the limitations of our control can lead to a more realistic and grounded approach to decision-making, helping us navigate through life with greater clarity and humility.
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