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July 20, 2009

Second Thoughts: Rational vs Emotional Decision Making

Did you ever have a brilliant idea only to late exclaim, “what was I thinking?!”. A recent post on LiteMind can help guide you in evaluating and auditing your ideas and thinking before you make the wrong moves. "10 Thinking Traps" highlights 10 mindsets that can hinder your ability to think rationally about a subject or decision.

The list inevitably takes the reader on a trip down “bad decision” lane and forces you to ask: “which of these traps am I currently stuck in and would I know it?”. The Status Quo trap? The Sunk Cost trap? The Recall Trap? I was sold on using this list as a guide to better rational decision making.

Interestingly, however, Fast Company also has an article about the differences in rational and emotional decision making.

The article cites a recent study that showed that if given the choice subjects would rather put their fate in the hands of someone they’ve been told is a rational decision maker (versus an emotional one) but that the outcomes were dramatically better for the subjects if they had chosen the emotional decision maker! In the study those decision makers that were encouraged to rely on their gut and emotion were more trustworthy and ethical.

* So is rational decision making better?
* What kind of decision maker would you trust more?
* How do you make sure that you are making sounds decisions?

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