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.
- 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?
- 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