Ask a Decision Engineer
Ask a Decision Engineer
Michelle Florendo
S2E3: The Basics - How to stop wasting time and energy on decisions
15 minutes Posted Jun 17, 2020 at 10:00 am.
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Show notes

In this episode Michelle shares what's at the root of decision paralysis and offers up tips on how to save time and energy in the decision making process

 

Resources mentioned in this episode:

Srinivas Rao's Unmistakable Creative Tribe

Thinking Fast and Slow by Daniel Kahneman

The Paradox of Choice by Barry Schwartz

Catching the Next Wave Podcast

Summary:

- The quality of a decision is separate and distinct from the quality of the outcome

- You have two different systems for decision making: System 1 (fast) and System 2 (slow); reserve System 2 for decisions that really warrant it

- You have a finite reservoir of energy for System 2. Decision fatigue occurs when you exhaust it.

- Even though you've been socialized to want to maximize every decision, the incremental ROI (return on investment) of time and energy isn't always worth it.

- Identify which decisions deserve to be processed with System 1, then for others, decide in advance, use rule-based heuristics, or delegate decision making