The Art of Thinking Clearly: Better Thinking, Better Decisions: The Secrets of Perfect Decision-Making

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The way it’s written means you can pick and choose chapters relevant to you and think how to apply them to your life. Despite our efforts, our decisions are quite often the result of emotions and certain biases mixed with a bit of logic – which we again subconsciously tamper to suit our biases. When primitive man’s food supplies were subject to high fluctuations, he needed others to share their food with him. A subject is shown a line drawn on paper, and next to it three lines—numbered 1, 2, and 3—one shorter, one longer, and one the same length as the original one.

We’re not great at determining value because we mostly use availability and bad comparisons to do it.Although distance education is an old concept the identity of distance learners has not been studied sufficiently. Your conclusion after a distressful event usually ends up something like this: “John, the product manager, is responsible for the slow sales this season – nothing else. We notice only a limited amount of the things in front of us, and don’t know how to make absolute judgments. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. The sunk cost fallacy is most dangerous when we have invested a lot of time, money, energy, or love in something.

There's also the strange section of "A Note on Sources" that neither Dobelli nor his editor and agent bother to weave into the chapters as properly written end notes. Even though the button didn’t do anything at all, the people with a button in their booth withstood much more noise than those without a button. Social proof” is the legacy of this herd instinct that dictates that individuals are behaving correctly when they act the same as other people. No matter how smart you think you are, this will shed light on some of the weak points in your thinking and make you wiser.But by knowing what they are and how to spot them, we can avoid them and make better choices-whether dealing with a personal problem or a business negotiation; trying to save money or make money; working out what we do or don't want in life: and how best to get it.

This is one of the reasons hazing and initiation rituals are so prevalent in groups: the pain you go through to join the group makes you value the group much more. Already an international bestseller, THE ART OF THINKING CLEARLY is essential reading for anyone with important decisions to make. You can recognize the difference because the true experts know what they know and what they do not know.Each generation poses these questions anew, and somehow the answers are always fundamentally disappointing.

I bought this book just because I saw Taleb eulogizing the book right on the book cover and so I fell for it.

He gives the reader guidance about the many potential gains to be had in a life without a 24-hour news cycle: less distraction, more time, less anxiety, more insights. It’s easier to become great at the things you’re naturally good at than it is the things you’re average-to-poor at. I can see a cognitive bias I hadn’t heard of before, read a couple of pages that lay it out with good, clear examples, and have a basic understanding of it within a few minutes.