Day 7: How to make smart decisions in action

As the book on How To Make Smart Decisions also indicates, you best can shield yourself against decision traps by looking them head on in the eyes. And so I list them below and tell yourself when last you saw the trap up close and personal.

To do’s

  • Note down the list below and add your own personal experiences when you saw these traps in function
  • Are there still traps that can be made public?
  • How would you do so?

Traps:

  • Sunk-cost trap: sticking to a decision because it did cost so much
  • Status-quo trap: not making any decision
  • Confirming evidence trap: asking the opinion of someone that is same minded as you are
  • Anchoring trap: disproportionate weight to the first information
  • Recallability trap: more weight to recent dramatic events
  • Overconfidence trap: overconfident about the positive parts of the decision

decicion traps

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