Effective Decision Making Process

Sometimes its the decision that can change your life forever and it may happen that that decision may be best for me but not for others.

Successful people make their decisions by reliasing what they want and once you made your decision rely on that dont look back ever.

Here is a real life example to show you the impact of decision making.

Due to a severe Accident, Dan Ariely’s 70% body was burned, For its Treatment he spent three years in the hospital.

In those three years, to most difficult thing for him was, the Procedure of removing Bandages from his body.

Removing bandages from the skin is a different thing, But removing bandages from the burnt skin almost from no skin is a very painful process.

Every day nurse used to apply ointment,a nd then starts removing bandages from his body.

She starts from his feet/leg and then reaches his head, which almost takes 1 hour to complete the process.

This 1 hour was the most painful time for Dan.

He used to Plead nurses, to try some other ways, or there must be other methods, by which this process will become less painful for him.

Nurse never listened to him and she used to say,that she knows,that this is the correct process,And ask Dan to keep quiet and to have patience.

After three years of his painful treatment, Dan joined university,.where he got the chance to do experiments and to find out the answers of his questions.

Which were:

To provide a patient or anyone, by giving a negative experience like pain then what will be the most correct and the proper method or a process.

He did many experiments, after which he came to know,that the process of removing bandages done by the nurses was completely wrong.

He would have suffered less if the nurse had started removing bandages from the head, which is the most painful part, a nd goes on removing till feet/leg, in the decreasing trend.

It would have become easier if she has removed bandages slowly by taking more time and by giving breaks for relaxation.

It was not at all that the nurse intention was to give pain to Dan or they were less experienced or Deliberately removed bandages by wrong method.

The reason for this was the Wrong Decisions.

This thing made Dan worried, because when nurses can take a bad decision on doing such an important work even having so much of knowledge and experience.

Then what about other professionals and normal people like us, how much bad decision we have taken, and must not have realised.

Dan started an In-depth study, through which he came to know many such irrational behavior of humans which are predictable.

Human behavior | Study to realize the best decision and impact of bad decision

The Truth About Relativity : Comparing things

One Day Dan was surfing internet,so he saw a magazine ad,which was like:

First Option:Internet Only Subscription for $59.

Second Option:Print Only Subscription for $125.

Third Option:Print and Internet Subscription for the same $125.

After reading the last option Dan thought how useless the second option is,why this magazine has even kept it,No one will be so stupid to choose the second option.

He knew that the Advertising people are not so stupid, why would they keep it without any reason.

Dan did an Experiment,where he showed this ad to 100 students,And asked them to choose one of it.

Resulted in,16 students chose the first option,No one selected the second option,And 84 students chose the third option.

Result was the way,Author was Expecting,Hence,no one has selected the second option.

Author again did the same Experiment, but for this time he removed the second option,

This Time 68 students chose the First option,whereas,only 32 students chose the second option.

what can be the reason for this different result?

Reason for this is,not having that second useless option,in the list which is called Decoy by the Economist,which helps showing the third option more attractive.

We, humans have the habit of comparing things,we compare our scores,grades with others,our house,salary,and almost  everything,we compare.

This comparison can be good for sometimes,but many time we can take the wrong decisions.

Again we talk about that ad,A normal person do not know, what can be the price of a magazine.

When a person sees a first option,they find it good but when they see the second option,they find it expensive.

When they go to the third option,they find it less expensive compare to the second option,because of which most of the people go for the third option, whereas,their work can be done by the first option.

Problem of Procrastination : Lack of time management and will power

Dan gives his university students three Assignments,if they submit on time,they will get the full marks,and it will also help them to increase their grades in finals.

If they do late submissions,Dan will deduct their marks,which will affect their grades in finals.

He gave such Assignments in Different classes:
Class A.
Class B.
Class C.

In which he asked,Class A to choose amongst themselves any three deadlines for submissions.

For Class B, He did not give any deadlines,And asked them to submit assignment at the end of the semester.

For the Class C,He by himself gives three deadlines.

As an outcome:

In all the classes, class C submits the assignment first and on time,by which they all get the good grades, and scores good marks.

Then class A,Do the Submissions.

Lastly,submission was done by the class B,to them any deadlines were not given.

This result Proofs the Parkinson Law,which says,To complete any kind of work,we take that much time,which is available to us. So time management and willpower is a vital part of decision-making.

To complete any simple work,within a week or a two week,we will finish work by utilising the entire time given to us.The thing which we learn here is before completing any task or a work we must give ourselves a deadline.

If we do not finish our work on given deadline,Then there must be some kind of penalty.

Like,if any work is not completed before time,or not going to gym on time or daily,then penalty will be giving treat to friends,or anything which forces you to complete your work on time.

The Cost Of Social Norms

Suppose you are going some where,than out of a sudden person asks you to keep his heavy luggage inside his car,which is parked far.

You feel like helping that person,so you take his luggage and keep it inside his car.

If that person instead of saying Thank you,Removes 10 rupee note and gives you,this gesture of him will make you feel angry,and some people will say something bad to him.

This will happen,because world works on two types of norms,First,Social Norms,and the second is Market norm.

Social Norm:

The work which we do on the basis of Humanity,In return we do not expect any favor or money,and on the other side.

Market norm:

The work which we do to get the amount as per the market,or else to get any benefit.

Both of these norms are totally different,and Author ask not to mix them,the way that person was doing,while offering 10 rupees.

It is very important,and it has many practical use.

Dan has done the experiment,In which he asked the lawyers,to fight case for poor people,in order to take less amount as compare to market price.

Almost every lawyer said No to him.

He again asked some lawyers to fight cases for free,just for the sake of poor people and for the charity purpose.Surprisingly,Most of the Lawyers said yes to him.

To conclude,if you want some one to work for you,Then either,pay them as per the market norms.

Use the Social Norm,but,never mix both together,otherwise you will not get the proper outcome.Do remember,Social norm,proofs to be more powerful then market norms.

2018-03-03T13:41:13+00:00

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