How to Make Better Decisions
The problem with decisions is that we rarely, if ever, find out if our decisions were good or bad. Was choosing your major, for instance, a good decision or could you have made a better one? I don't think most of us would ever know the answer to this question. So, is it possible that we regularly make bad decisions but don't know that we do? And, if so, how can we fix something if we don't know it is broken? In fact, we do regularly make bad decisions. This has been shown in many experimental studies some of which will be covered in this class. What is more, for some types of decision problems we are hardwired to make mistakes. This means that we are bound to go wrong regardless of how much we know or how smart we are. So, what can we do to remedy this problem? Quite a bit, as it turns out.