Himalaya: Listen. Learn. Grow.
How do you decide what product to buy, apartment to rent, or who to marry? Listing pros and cons, weighing attributes, and collecting evidence are important for optimal decision making. It’s also valuable to consider sunk costs and opportunity costs, but when do you say, "Enough is enough," and finally make a choice? Should we rely on highly analytic and rational approaches to decision making, or leave it to our unconscious processes to solve in the background? Reading: Mindware by Richard Nisbett, “Should You Think Like an Economist?” and “Spilt Milk and Free Lunch”; Arkes, H. R., & Blumer, C. (1985). The psychology of sunk cost. Organizational behavior and human decision processes, 35(1), 124-140. Guests: Jason Tangen, Rachel Searston, Ruben Laukkonen, Jeremy Nash, and Kirsty Kent. Learn more at think101.org.