Making Decisions
Most of the decisions we make in our lives involve uncertainty.
A college student may receive two job offers in two new cities for two different roles, and there are too many unknowns while she makes a decision.
In such cases, we usually take a probabilistic approach to decision-making, assigning probabilities to the positive options.
However, the problem with this approach is that we focus too much on the reward and too little on the risks.
A better strategy is a game-theoretic approach focusing more on possible negatives than positives.
Minimizing losses instead of maximizing gains is a different lifestyle.
Project and Program Manager, Delivery specialist, Procurement and Product Specialist
5 个月I did think about this years ago Abhimanyu Gupta, Ph.D. … thx for your insightful thoughts. I went with the positive decision approach … and realised later that it was perhaps a false positive ( pun) as sub consciously I’d already made up the decision and was validating with others/myself. ??
IT Director | Security, Server, Storage, and Backup Operations | Information Technology Leader
5 个月It's all about where one's risk tolerance is at that given point.
Registrar at Rockwood School District
5 个月Never thought it before!
Sourcing Manager
5 个月Yes, why not. Never thought about it that way!