When you’re faced with two options where you know that one option will be good and the other bad, it’s useful to take the time to analyze and determine which one is which. However, many times in your life and career, you’ll face options that are far more ambiguous. Sometimes, the information you’d like to [...]

Decision-Making Bias

Some people make decisions based on their intuition or “gut” feeling. Others make decisions based purely on data and logic. Neither is wholly right or wrong, as both have problems with bias. Intuitive decisions are usually based on two things: 1) a mental model of the situation at hand; and 2) our emotional feelings about [...]

Mood- vs. Goal-Based Decision-Making

When I started at Stanford, I thought I wanted to major in Economics or Psychology. I took classes in both. The premise of economics is that people are rational. The premise of psychology is that people are not rational. I remember wondering… which field is right?!? It took me a decade later to come to [...]