How To Make Better Decisions

Flowchart of Rational Planning and Decision Ma...

Image via Wikipedia

In a great article, Higgs points to 3 errors common in government efforts to manage the economy, which is valuable enough, but I believe these errors are common in most decision making. In brief, the quality of our decisions would be improved if we:

  • thought more about the hidden disadvantages instead of the visible advantages
  • thought more about the long term and less about the short term
  • considered what indirect impacts there might be

You could do worse than incorporating these mandates into your decision making process.

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