Quotes About Decision-making

Complex and open-minded thought is most likely to be activated when decision makers learn prior to forming any opinions that they will be accountable to an audience (a) whose views are unknown, (b) who is interested in accuracy, (c) who is reasonably well-informed, and (d) who has a legitimate reason for inquiring into the reasons behind participants' judgments/choices.

Quitting on time will usually feel like quitting too early. If you quit on time, it's not going to seem like anything particularly dire is happening at that particular moment. That's because quitting is a problem of being able to glimpse at the range of ways the future might play out and see that the likelihood that things will turn out poorly is too high to make it worth your while to continue.

There is a well-known heuristic in management consulting that the right time to fire someone is the first time it crosses your mind. This heuristic is meant to get businesses to the decision sooner, because most managers are reluctant to terminate personnel, hanging on to them too long.

Resulting is the tendency to look at whether a result was good or bad to figure out whether a decision was good or bad.

thinking in bets is not a miracle cure. Thinking in bets won't make self-serving bias disappear or motivated reasoning vanish into thin air. But it will make those things better. And a little bit better is all we need to transform our lives.

So in loose multi-way action games, the math says play tight. In tight games, where the pots are tiny, the math says play loose.

Daniel Gilbert)????????????????????(Stumbling on Happiness,

As with all the strategies in this book, we must recognize that no strategy can turn us into perfectly rational actors. In addition, we can make the best possible decisions and still not get the result we want.

When we make in-the-moment decisions (and don't ponder the past or future), we are more likely to be irrational and impulsive.* This tendency we all have to favor our present-self at the expense of our future-self is called temporal discounting.

Teller realizes that when you're building pedestals, you are also accumulating sunk costs that make it hard to quit even as you find out that you may not be able to train the monkey to juggle those torches.

The next time that you find yourself saying, "I'm just not ready to decide yet," what you should actually say is "For now I think that the status quo is still the best choice." Maybe you need more information to know whether to switch. But what shouldn't stop you from quitting (or getting that information) is that it's too scary to switch because loss aversion is too intense.

Whether it is a football game, a protest, or just about anything else, our pre-existing beliefs influence the way we experience the world. That those beliefs aren't formed in a particularly orderly way leads to all sorts of mischief in our decision-making.

If your dog is barking at the back door and your wife is yelling at the front door, who do you let in first? The dog, of course. He'll shut up once you let him in.

We are definitely a team, from each band member to our management/booking agent. I like to be as involved as possible with business decisions, but at a certain point, it's important to me to step aside and let the professionals do their thing.

There's so much more involved with the game than just sitting there, looking at the numbers and saying, 'OK, these are my percentages, then I'm going to do it this way,' because that one time it doesn't work could cost your team a football game, and that's the thing a head coach has to live with, not the professor.

I worked with a group of people who argued day and night - professors, officials, the Minister of Finance - but there were decisions that I had to make.

I'm a hard-nosed businessman, that if a company is paying its way, increasing profits for thirty-odd consecutive years, you don't put it into receivership.

There is a profound difference between an activist judge and an engaged judge.

Eliminate emotion from your investment program.

A lot of people are programmed to think, 'Oh, I want to do this, but I also want this.' It's like they want everything. You want your cake, and you want to eat it, too. Even though I guess you're supposed to eat cake, but I never really get that saying.

I didn't want to be 40 or 50 years old and still playing clubs, I didn't feel like I was making any progress, and I actually gave the band notice at one point. I began to have doubts about my abilities.

I still have sadness and complicated feelings about my divorce. But how beneficial is it to keep hanging onto those feelings? If someone lives through an accident, his aim is to become better and healthy. My aim is always to progress - to make better decisions and be a better father, a better boyfriend, a better husband if it happens again.

When you take a director off a project, that makes a person feel humiliated because everyone knows it. But we're responsible because we put them in that position.

As a director, you've got to have quite a few projects going because you never know which one will actually come together with the financing and get the green light.