It is very difficult to make really big, important, life-changing decisions because we are all susceptible to a formidable array of decision biases. There are more of them than we realize, and they come to visit us more often than we like to admit.
Interpretation
Making significant decisions is challenging due to various biases that influence our judgment.
This quote by Dan Ariely emphasizes the complexity of making important decisions in life. It highlights how our choices are often swayed by hidden biases, many of which we may not even be aware of, making the decision-making process more difficult than it appears. Understanding these biases can empower us to make better choices.
In practice
In a seminar on decision-making, this quote can be used to illustrate the challenges faced when making choices.
To summarize, using money to motivate people can be a double-edged sword. For tasks that require cognitive ability, low to moderate performance-based incentives can help. But when the incentive level is very high, it can command too much attention and thereby distract the person’s mind with thoughts about the reward. This can create stress and ultimately reduce the level of performance.
It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like Homer Simpson than Superman. So from this perspective it is rather depressing. But at the same time there is also a silver lining. There are free lunches!
In a world where everyone is behaving honestly, any dishonesty constitutes a big infraction. But, in a world where many people are behaving dishonestly, and the news is filled with stories of their infractions, even big infractions can feel small to the perpetrator.
Because cheating is easier when we can justify our behavior, people often cheat in small amounts: We can come up with an excuse for stealing Post-It notes, but it is much more difficult to come up with an excuse for taking $10,000 from petty cash.
Disasters are usually a good time to re-examine what we've done so far, what mistakes we've made, and what improvements should come next.
The most difficult thing is to recognize that sometimes we too are blinded by our own incentives. Because we don’t see how our conflicts of interest work on us.
The present moment is the substance with which the future is made. Therefore, the best way to take care of the future is to take care of the present moment. What else can you do?
Man cannot live upon words, however he may try.
Don't leave a 'good time' to chance. Experiences have to be woven with care and planning, like a tapestry.
I have cried even when the laugh did choke me. But no more think that I am all sorry when I cry, for the laugh he come just the same. Keep it always with you that laughter who knock at your door and say, ‘May I come in?’ is not true laughter. No! He is a king, and he come when and how he like. He ask no person, he choose no time of suitability. He say, ‘I am here.
Invoke the Mercy of God and as milk returns not to the udder go not back to your wrongdoing." "Have compassion on yourself and on others and Infinite Compassion will be given to you." "In the name of Allah, All-Merciful, All Compassionate, bestow on me a Mercy that shall put me beyond the need of mercy from any other than Thee.
Two qualities are indispensable: first, an intellect that, even in the darkest hour, retains some glimmerings of the inner light which leads to truth; and second, the courage to follow this faint light wherever it may lead.
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