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THIS WEEKS THOUGHT  A Mathematician, a Magician and a Croupier? - Week 49

Reading Time 3 minutes & 23 seconds    FOR A PODCAST OF THIS THOUGHT CLICK HERE Or Ipod Users Click Here

(sorry its a long one but I didn't want you to miss anything)

 

Well I thought I'd carry on the theme on decision making from last week. After all everything we do, have and know is due to the decisions we make.

 

Last week the BBC aired a TV program on decision making, and here is my paraphrased version of the highlights

1) The mathematician - There is an equation that you can use for every decision, you just need to work out the variables and their relationships. Then its simple to work out the right decision to maximise your chance of success. Interesting even if you get the maths wrong considering your options and the variables will dramatically improve your chance of making a good decision.

2) The influencer - In an experiment unknowing participates held a cup of hot coffee for a minute before they interviewed someone, it was always the same man, behaving in the same way. Then they carried out the same experiment but this time asking the participates a hold a cold drink for about a minute. Incredibly those who held the hot drink were much more positive about the man they were interviewing than those whom had held the cold drink. So be aware that you can be, and mostly likely are, being influenced in some very subtle ways.

3) The Croupier - People try to avoid losing what they've had. The a croupier firstly gave people (group 1) 20, before asked then if they wanted to walk away or bet the 20 on a roulette table, where success paid back 50 but failure lost 20. Then he did the same thing but time he phrased it differently (group 2). Instead he gave people 50, but before giving them the choice to walk away he took 30 back and offered them the same gamble. It is the same decision, do I bet 20 to win 50 or walk away. However people whom had had 50 in their hands and had 30 taken away (group 2) showed a much greater tendency to take the gamble. Its thought people do this because emotionally they don't want to lose something they already had. Further experiments when simultaneously looking the brain in an Magnetic Resonance scanner have shown that people make decisions in the "Amygdale" or the emotional part of the brain. and people who could make better decisions have a more active frontal lobe. So if you sense check your decisions, which are all made emotionally, with the logic in your frontal lobe and you'll end up making much better decisions.

4) The Magician -  A magician asked participate to choose which was the best looking face, by selecting one of two faces shown on a photo card. Then through a simple card trick he occasionally gave the participant the wrong face when he asked them to explain "why did you choose that one?" Interestingly about 80% of people don't pick up the switch even after being presented with a wrong face a number of times.  Instead they post rationalised the decision, giving reasons why this face was the most attractive out of the two. So be aware that you will post rationalise bad decisions to create a belief that they were good decisions. In addition be aware that when others are giving you advice they may be post rationalising their own bad decisions.

So till next week consider your decisions, pour yourself a nice warm cup of coffee and hopefully you'll decided to come back next week so as not to miss out on some more great ideas.

David Gardner

 

 

 Recommended Audio CD's
 
THE MUST HAVE
"THE ACHIEVERS EDGE" 
By Peter Thompson
 
More Great CD Programs
 Think & Grow Rich - Napoleon Hill
 Good to Great - Jim Collins
 Psychology of Achievement - Brian Tracy
 Discover Your Strengths - M Buckingham
 7 Habits of Highly Effective- Stephen Covey
 Rich Dads Secrets - Robert Kiyosaki
 Maverick Mindset - John Elliot
 Vocal Power - Roger Love
 Quantum Memory - Dominic O'Brien
 Getting Things Done - David Allen
A Short History of Nearly Everything- B Bryson

 

 Recommended Books

 Good to Great - Jim Collins 
  7 Habits - Stephen Covey
  The Automatic Millionaire -David Bach
  Discover you Strengths - M Buckingham 
  Richard Branson's Auto biography
  Brilliant Memory - Dominic O'Brien
  Think & Grow Rich -  Napoleon Hill 
  Freakonomics - Stephen Levitt
 Getting Things Done - David Allen
 The Machine That Changed the World
 Watching the English - Kate Fox
A Short History of Nearly Everything- B Bryson

 

Archives

Is getting divorced an easy decision?

The Hudson Bay Start

How to Live on 24hrs a day

Water in the Brain

Jamie's Food for Thought

Betchaican the Wiseman Way

Old Lang Syne

Who Made the World?

The Latte Factor

The Fox and the Hedgehog

Life Balance the Da Vinci Way

Peace of Mind

The Miss World Quiz

The Road is better than the Inn

Did the Elephant Remember?

Can't See the Wood for the Trees

Dutch Courage

Talk with Relevance

Milo the Greek

A Boy called No

Bluebird - A pint of Ale &  water speed record

Visualising an Argument with Alien Bowling

Old Friends lead to New Thoughts

Bad Driver

Space Shuttle designed on a horses backside

Back to the Future

The Mexican Boatman & "Harvard MBA".

The World in Perspective

Acres of Diamonds

First impressions in 30s

The Two Minute Rule

 Noughts and Crosses

 Think and Grow Rich

 3 Blind Men & An Elephant
 
Someone Everyone Anyone No-one
 
12 Questions to High Performance
 
The Bee Can't Fly but No-one told the bee
 
The Maverick Mindset of Baseball
 
Three Men and a Boat
 
Stop
 
Two Cannibals & a Beautiful Girl
 
The Meaning of Life  
 
What was your name again?
 
Two Frogs
 
Is Common Sense Possible
 
An Architects Vision
 
Does Edison Turn Your Light On

 

Other books and CDs I've mentioned can be found here

There are loads of great audio programs at Nightingale Conant's ,web site here,