Quotes About Decision-making

Conversely, instruct subjects to "carefully consider" their decision, or prime them to value reflection over intuition, and they'd be more selfish. The more time to think, the more time to do a version of "Yes, we all agree that cooperation is a good thing . . . but here is why I should be exempt this time"—what the authors called "calculated greed.

If they're told, "The drug has a 95 percent survival rate," people, including doctors, are more likely to approve it than when told, "The drug has a 5 percent death rate.

Thus, particularly important is a 2011 study that used transcranial magnetic stimulation techniques to temporarily inactivate the vmPFC; subjects became less likely to change their answer to conform.

how acute stress strengthens connectivity between the frontal cortex and motoric areas, while weakening frontal-hippocampal connections; the result is decision making that is habitual, rather than incorporating new information. Similarly, chronic stress increases spine number in frontal-motor connections and decreases it in frontal-hippocampal ones.9

the frontal cortex makes you do the harder thing when it's the right thing to do

It was grace. In those who were always honest, the dlPFC, vlPFC, and ACC were in veritable comas when the chance to cheat arose. There's no conflict. There's no working hard to do the right thing. You simply don't cheat.

While this neurobiology is mighty impressive, the brain is not where a behavior 'begins'. It's merely the final common pathway by which all the factors in the chapters to come converge and create behavior.

It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.

Keynes rejected Labour's anti-élitism. He felt that the intellectual elements in the Labour party will '[n]ever exercise adequate control; too much will always be decided by those who do not know at all what they are talking about'. The Conservatives were much better off in this respect, since 'the inner ring of the party can almost dictate the details and the technique of policy'.

There is always risk, so learn to manage risk instead of avoiding it.

Choosing what we think rather than reaction to our emotions.

People's lives are forever controlled by two emotions: fear and greed.

When you need advice, make sure you choose your advisor wisely. There

explain that people look at a piece of real estate, or the name of a stock, and often make their decision based on what their eyes see, what a broker tells them or on a hot tip from a fellow worker. They often buy emotionally instead of rationally.

you should analyze 100 properties, make offers on ten of them, have three sellers say yes, and then buy one.

By not giving in to your emotions, you were able to delay your reactions and think.

When you again resisted your emotions when I tempted you with more money, you were again learning to think in spite of being emotionally charged.

Heaven forbid a bean-counter takes over a business. All they do is look at the numbers, fire people, and kill the business.

Because of their willingness to take risks wisely

when it comes to money, high emotions tend to lower financial intelligence.

High emotions tend to lower financial intelligence.

So we let him act on his own

DECISIVENESS The world is moving faster and faster. Stock market trades are made in milliseconds. Deals come and go on the Internet in a matter of minutes. More and more people are competing for good deals. So the faster you can make a decision the more likely you'll be able to seize opportunities—before someone else does.

Fear is the main reason that people say, "Play it safe." That goes for anything, be it sports, relationships, careers, or money.