5 Ways to Improve Your Decision-Making Process
You’ve tried flipping a coin. Shaking a Magic 8 ball. Even good old eeny, meeny, miny, moe. The next time you can’t make heads or tails of a situation, try something new: one of the savvy and surprising ideas on the next page.
Biologically we’re programmed to make snap judgments. And today’s technology—text messaging and e-mails—encourages that hurried
behavior. But instantaneous decisions are not in our best interest and can lead to bad outcomes. Waiting gives you the opportunity
to learn more about the situation at hand and to process it in a more nuanced way. When I have a decision to make—even something
like what gift to buy for a family member—I ask myself, “What is the longest amount of time I can wait before rendering a
verdict?” Then I do just that.
Frank Partnoy is an attorney and the author of several books, including, most recently, Wait: The Art and Science of Delay ($27, amazon.com). He lives in San Diego.
Close Your Eyes
The hardest calls are often those that involve a moral judgment. The next time you face one of those dilemmas, be it small
(pondering whether to tell your spouse a white lie) or large (thinking about driving away after hitting a parked car), try
this: Close your eyes. I conducted a study that discovered that people make more ethical decisions when their eyes are shut.
Why? Blocking out stimuli, even briefly, allows you to imagine the choice you’re facing in vivid detail, and it intensifies
your emotional reactions as well. You’ll tend to feel better about being righteous and worse about being unscrupulous. Hence
you’ll come to thoughtful conclusions.
Eugene Caruso is an associate professor of behavioral science at the University of Chicago Booth School of Business.
Assume the Choice is Easy
People believe that to get the best result, they need to work hard. And they apply that same logic to decisions: To make the
right choice, the process should be arduous. I know I do that. When my wife and I were apartment hunting, for example, the
first place we looked at had all the features we wanted. But instead of being satisfied, we tried to find some downside to
the place. When solving a problem seems easier than we thought it would be, we’re apt to make things harder for ourselves,
resulting in unnecessary thinking and legwork. Luckily we opted to buy the apartment. But we made the experience more difficult
than it needed to be.
Rom Schrift, Ph.D., is an assistant professor of marketing at the University of Pennsylvania’s Wharton School.