1. Decision Strategies
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[խ] Questions we can make, answered
Life Decisions
What is the meaning of “Life Decisions”?
Give me some examples of “Life Decisions”
Give me examples of difficult decisions in life
How to improve lifeimpacting decisions
Major business decisions
Let me understand the major types of business decisions
What are some examples of tough business decisions
Political decisions
Introduction: One good measure of the development of political awareness is the average level of preparation political candidates at all levels have, both at the regional and national scenes, and particularly for congress and senate positions.
There is no other work activity more complex, and more impactful to many others, than political relevance. The average businessperson takes a number of years to study all that can be learned about a short number of products or services: those of the enterprise.
What does “political decisions” mean?
What are currently the principal world challenges we must address
What are some crucial political challenges
Rational vs political decisionmaking
🔲⏋(article) How can we make the best of life?
In an article titled What Are Life’s Biggest Decisions?, by Adrian R. Camilleri Ph.D. January 31, 2021. Reviewed by Gary Drevitch, as published in:
ORIGINAL ARTICLE: psychologytoday.com/intl/blog/lifesbiggestdecisions/202101/whatarelifesbiggestdecisions
As stated in the article, “New research reveals life’s most common big decisions.”
We call them “big” decisions. When outcomes can have a significant or longterm impact on us, or others.
It is wise to get prepared. But, what will those big decisions be?
Most of us try to solve common and frequent problems:
 What should I learn? What should my education be like?
 What type of work should I do?
 Where should I live?
 How may I build my own family?
🔲⏋What are the most frequent life decisions
In the article, Mr. Camilleri identifies “nine different supercategories and fiftyeight different subcategories.”
The supercategories were: Career, Education, Family, Finances, Relationships, Relocation, SelfDestruction, SelfDevelopment, and Other. Look at the figure in the article (click here) to see the full list of subcategories
The author further describes “the 20 most common big life decisions among all respondents”. I will show here some of those decisions. To see the full list, as well as “the percentage of respondents mentioning that decision at least once”, click here:
 Start a new job/position
 Get married
 Pursue a degree
 Have/adopt a child
 Buy a home
 Quit a job/position
 Move to a new state
 Choose where to study
 Get divorced
 Other family decisions
 Other educationrelated decisions
 Buy something
 Get a pet
 Begin a romantic relationship
 End romantic relationship
 Move to a new city
 Make a decision for your child
 Start a new business
The most important life decisions
Another question we should be interested in refers to the relative importance of these decisions. In the survey, the author of the article also asked respondents to rate how big the decision felt at the time, and the most important decisions apparently are:
 If he/she should get divorced
 Whether to have/adopt a child
 If he/she should get married
 Moving to a new geographic location
 Making a decision for their child
 Buying a new home
 Whether to end a romantic relationship
 Other family decisions
See the original article for more details.
How important decisions are made
In an article titled “Choices leading to the Most Important Decisions in Your Life” (Linkedin), by: Srinivas Rao. Linkedin, dated September 3, 2020, as published in:
ORIGINAL ARTICLE: www.linkedin.com/pulse/5mostimportantdecisionsyoumakeyourlifesrinivasrao/
Mr Rao considers the following quotes by David Brooks and Annie Duke:
The paradox of life is that people seem to deliberate more carefully over little choices than the big ones. Before buying a car, they read all the ratings, check out resale values on the internet, and so on.
But when it comes to choosing a vocation, they just sort of slide rather than decide. They slide incrementally into a career because someone gave them a job. They marry the person whom they happen to be living with.
— David Brooks, The Second Mountain
What makes a decision great is that not it has a great outcome. A great decision is the result of a good process, and that process must include an attempt to accurately represent our own state of knowledge.
— Annie Duke
It’s a mistake to simply accept the received ideas of the world around you.
You have to come up with your own values, your own worldview.
— David Brooks, The Second Mountain
When reading the full article, we find out that we should first develop our own choices, since then they will determine our decisions, as follows:
 Values: status values, character values, faith values
 Friendship / social circles: reciprocity and intentionality
 Environment: where you are and who you are with
 Careers: curiosity vs career paths, prestige vs responsibility, your first boss
For more information about this, read the full article by clicking here.
We can certainly improve our decisions
In an article titled “3 Ways to Improve Your Decision Making” (Harvard), by Walter Frick, dated January 22, 2018, as published in:
ORIGINAL ARTICLE: hbr.org/2018/01/3waystoimproveyourdecisionmaking
We can find out that there is a very short list of specific rules that will help us improve our decisionmaking processes.
The first rule refers to how “certain” we pretend we are about our decisions
As stated in the original article:
“Nobelprizewinning psychologist Daniel Kahneman has said that overconfidence is the bias he’d eliminate first. It’s ubiquitous.”
Then, the author suggests that we can improve our decision making by simply finding out how we can be brave and accept that it is impossible to be certain about our decisions. Overconfidence is sometimes a habit that can be controlled by simply revisiting the logic of our decisions.
A second rule suggests that we take an outside view
The author suggests we ask ourselves “How often does that typically happen?”
This is highly beneficial, since sometimes we are overloaded with the specifics (our own close view) of the decision, that simply do not let us do a formal and solid analysis. Instead, we should consider similar cases, asking ourselves “how often does this happen?”.
Finally, we can think in terms of probability
That is, if we know the basic elements of probability, we can avoid common errors in logic.
Let us do a simple test: if we drop a coin, it can go down as face, or tail. The simple question could be: what are the chances we get either? And a simple answer would be “50% face, and 50% of having tails”.
Given that, if we are allowed two throws, then what is the probability of getting at least one face? The simple answer would be: 50% probability of getting face, twice = 100%, or 50 + 50% = 100%.
However, that is not the right answer. Unique probabilities should be multiplied. The probability of not getting face in each throw is 50%. The probability of not getting face twice in a row is 50% x 50% = 0.50 x 0.50 = 0.25 or 25%. That is, the probability of getting at least one face is 100% – 25% = 75%.
These are the simple calculations we should not only learn, but really come to terms with, until we fully understand them. If we manage that, cognitive biases will be greatly reduced.
The author suggests that we “spend just a few minutes, or hours, and learn about it: this will help you with the first two rules. You’ll be able to better express your uncertainty and to numerically think about it. The three rules are more powerful when used together.”
For more detailed information, read the full article by clicking here.
Exactly when should I commit to a big decision? There is a mathematical trick for this
In an article titled “The 37 Percent Rule: The Mathematical Trick for Making Much Better Decisions, by Jessica Stillman, contributor at Inc.com@entrylevelrebel, dated May 12, 2022, as published in:
ORIGINAL ARTICLE: www.inc.com/jessicastillman/decisionmaking37percentrule.html
Ms. Stillman states: “Whether you’re choosing a spouse or a storefront, this mathbased trick can help you pick well.”
The author then considers how it is very important, for good decision making, to be able to balance “exploration and decisiveness”.
Mathematicians seem to state that, when making a major decision, there is a rule that works. In very short words: Dedicate, at first, 37 percent of your time or effort to make that decision, just putting together the necessary information without making a decision about anything just yet. After that, the trick is completed by choosing the very first option that comes along that improves on all those that you have seen so far.
It certainly may seem strange but, this strangely exact rule has a formula (if you are good at math, you can find a specific description here), and mathematicians state that through this rule, anyone will get the maximum probability of making a good choice, even the best possible choice available.
This rule only maximizes probabilities. Success is not guaranteed. If you somehow have found a great option, and you feel very confident about a decision you have just made, don’t hesitate and just go ahead with it.
In a nutshell, the suggestion is that we spend about one third of our process conducive to a decision, just putting together the information you need. No more, and no less. This strikes a good balance in your overall process.
For more information about this, read the full article by clicking here.
🔲⏋The most important life decisions
Another question we should be interested in refers to the relative importance of these decisions. In the survey, the author of the article also asked respondents to rate how big the decision felt at the time, and the most important decisions apparently are:
 If he/she should get divorced
 Whether to have/adopt a child
 If he/she should get married
 Moving to a new geographic location
 Making a decision for their child
 Buying a new home
 Whether to end a romantic relationship
 Other family decisions
See the original article for more details.
🔲⏋How important decisions are made
In an article titled “Choices leading to the Most Important Decisions in Your Life” (Linkedin), by: Srinivas Rao. Linkedin, dated September 3, 2020, as published in:
ORIGINAL ARTICLE: www.linkedin.com/pulse/5mostimportantdecisionsyoumakeyourlifesrinivasrao/
Mr Rao considers the following quotes by David Brooks and Annie Duke:
The paradox of life is that people seem to deliberate more carefully over little choices than the big ones. Before buying a car, they read all the ratings, check out resale values on the internet, and so on.
But when it comes to choosing a vocation, they just sort of slide rather than decide. They slide incrementally into a career because someone gave them a job. They marry the person whom they happen to be living with.
— David Brooks, The Second Mountain
What makes a decision great is that not it has a great outcome. A great decision is the result of a good process, and that process must include an attempt to accurately represent our own state of knowledge.
— Annie Duke
It’s a mistake to simply accept the received ideas of the world around you.
You have to come up with your own values, your own worldview.
— David Brooks, The Second Mountain
When reading the full article, we find out that we should first develop our own choices, since then they will determine our decisions, as follows:
 Values: status values, character values, faith values
 Friendship / social circles: reciprocity and intentionality
 Environment: where you are and who you are with
 Careers: curiosity vs career paths, prestige vs responsibility, your first boss
For more information about this, read the full article by clicking here.
🔲⏋We can certainly improve our decisions
In an article titled “3 Ways to Improve Your Decision Making” (Harvard), by Walter Frick, dated January 22, 2018, as published in:
ORIGINAL ARTICLE: hbr.org/2018/01/3waystoimproveyourdecisionmaking
We can find out that there is a very short list of specific rules that will help us improve our decisionmaking processes.
The first rule refers to how “certain” we pretend we are about our decisions
As stated in the original article:
“Nobelprizewinning psychologist Daniel Kahneman has said that overconfidence is the bias he’d eliminate first. It’s ubiquitous.”
Then, the author suggests that we can improve our decision making by simply finding out how we can be brave and accept that it is impossible to be certain about our decisions. Overconfidence is sometimes a habit that can be controlled by simply revisiting the logic of our decisions.
A second rule suggests that we take an outside view
The author suggests we ask ourselves “How often does that typically happen?”
This is highly beneficial, since sometimes we are overloaded with the specifics (our own close view) of the decision, that simply do not let us do a formal and solid analysis. Instead, we should consider similar cases, asking ourselves “how often does this happen?”.
Finally, we can think in terms of probability
That is, if we know the basic elements of probability, we can avoid common errors in logic.
Let us do a simple test: if we drop a coin, it can go down as face, or tail. The simple question could be: what are the chances we get either? And a simple answer would be “50% face, and 50% of having tails”.
Given that, if we are allowed two throws, then what is the probability of getting at least one face? The simple answer would be: 50% probability of getting face, twice = 100%, or 50 + 50% = 100%.
However, that is not the right answer. Unique probabilities should be multiplied. The probability of not getting face in each throw is 50%. The probability of not getting face twice in a row is 50% x 50% = 0.50 x 0.50 = 0.25 or 25%. That is, the probability of getting at least one face is 100% – 25% = 75%.
These are the simple calculations we should not only learn, but really come to terms with, until we fully understand them. If we manage that, cognitive biases will be greatly reduced.
The author suggests that we “spend just a few minutes, or hours, and learn about it: this will help you with the first two rules. You’ll be able to better express your uncertainty and to numerically think about it. The three rules are more powerful when used together.”
For more detailed information, read the full article by clicking here.
🔲⏋Exactly when should I commit to a big decision? There is a mathematical trick for this
In an article titled “The 37 Percent Rule: The Mathematical Trick for Making Much Better Decisions, by Jessica Stillman, contributor at Inc.com@entrylevelrebel, dated May 12, 2022, as published in:
ORIGINAL ARTICLE: www.inc.com/jessicastillman/decisionmaking37percentrule.html
Ms. Stillman states: “Whether you’re choosing a spouse or a storefront, this mathbased trick can help you pick well.”
The author then considers how it is very important, for good decision making, to be able to balance “exploration and decisiveness”.
Mathematicians seem to state that, when making a major decision, there is a rule that works. In very short words: Dedicate, at first, 37 percent of your time or effort to make that decision, just putting together the necessary information without making a decision about anything just yet. After that, the trick is completed by choosing the very first option that comes along that improves on all those that you have seen so far.
It certainly may seem strange but, this strangely exact rule has a formula (if you are good at math, you can find a specific description here), and mathematicians state that through this rule, anyone will get the maximum probability of making a good choice, even the best possible choice available.
This rule only maximizes probabilities. Success is not guaranteed. If you somehow have found a great option, and you feel very confident about a decision you have just made, don’t hesitate and just go ahead with it.
In a nutshell, the suggestion is that we spend about one third of our process conducive to a decision, just putting together the information you need. No more, and no less. This strikes a good balance in your overall process.
For more information about this, read the full article by clicking here.
Reference
Information sources

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