The Decision Making Guide:

      THE DECISION MAKING GUIDE: HOW TO MAKE                    SMART DECISION AND AVOID BAD ONES

What is Decision Making 

Let's define decision making. Decision making is just what it sounds like: the action or process of making decisions. Sometimes we make logical decision, but there are many times when we make emotional, irrational,and confusing choices. This page covers why we make poor decision and discusses useful frameworks to expand your decision toolbox.

Why We Make Poor Decisions

I Iike to think of myself as a rational person, but I'm not one. The good news is it's not just me or you. We are all irrational . For a long time researchers and economists believed that humans made logical well-considered decisions. In recent decades however researchers have uncovered a wide range of mental errors that derail our thinking. the articles below outline where we often go wrong and what to do about it.

• 5 Common Mental Errors That Sway You From Making Good Decisions: Let's talk about the mental errors that show up most frequently in our lives and break them down in easy-to-understand language. This article outlines how survivorship bias, loss aversion the availability heuristic, anchoring, and confirmation bias sway you from making good decisions.
• How to Spot a common Mental Error That Leads to Misguided Thinking:

       Hundreds of psychology studies have proven that we tend to overestimate the importance of               events we can easily recall and underestimate the importance of events we have trouble recalling.

       Psychologists refer to this little brain mistake as an "illusory correlation "In this article we talk             about a simple strategy you can use to spot your hidden assumptions and prevent yourself from           making an illusory correlation.

• Two Harvard Professors Reveal One Reason Our Brains Love to Procrastinate: We have a tendency to care too much about our present selves and not enough about our future selves if you want to beat procrastination and make better long-term choices. then you have find a way to make your present self act in the best interest of your future self . This article breaks down three simple to do just that.

How to use Mental Models for Smart Decision Making

The smartest way improve your decision making skills is to learn mental models A mental model is a framework or theory that helps to explain why the world works the way it does. Each mental model is a concept that helps us make sense of the world and offers a way of the problems of life.

Top Mental Models to Improve Your Decision Making

• Margin of Safety: Always Leave Room for the Unexpected
• How to Solve Difficult Problems by Using the Inversion Technique
• Elon Musk and Bill Thurston on the power of Thinking for yourself

Best Decision Making Books

• Thinking Fast and Slow by Daniel Kahneman
• Poor Charlie Almanack by Charles T. Munger
• Seeking Wisdom by Peter Bevelin
• Decisive by Chip Health and Dan Health

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