How to Choose

In this episode we look at five lessons from the book 'Left Brain, Right Stuff: How Leaders Make Winning Decisions' by Phil Rosenzweig. Rosenzweig challenges the assumption that the various biases and heuristics observed by behavioural economists such as Daniel Kahneman will automatically apply in all other arenas of life - and instead tries to demonstrate that the reality is more subtle. But Tess isn't fully convinced by some of Rosenzweig's arguments. What do you think?

In this, our 50th episode, we chat with champion ultra trail runner Patricia McKibbin about the extraordinary world of competitive trail running and get some great tips on how to persevere when times get tough.Inspired by Trish's stories? You can follow her on Instagram - https://www.instagram.com/trishmckibbin/

In episode 8 of season 5, we discuss the attribute of perseverance and why it is important for good decision making. Decision making can be hard work - unless we persevere, we risk settling for a poor choice. And having made that decision, we need perseverance to turn our good choice into a good outcome.If you're interested to learn more about this topic, you might want to grab the book 'Grit' by Angela Duckworth.The full interview with champion trail runner Patricia McKibbin is available as a bonus episode - make sure you check it out!

In episode 7 of season 5, we discuss the attribute of being reflective and why it is important for good decision making. And also why it's essential for success in life more generally.WHAT TO DO?You can enhance your reflection by:schedule regular time to reflectask yourself specific questions and consider getting an outside perspectivereflect on your successes too, not just when things go wrongLINKSWant to learn more about developing your reflective ability? Here's links to some interesting articles: Research on reflectionhttps://www.ncbi.nlm.nih.gov/pmc/articles/PMC3167369/https://www.sciencedirect.com/science/article/pii/S2405844022011525https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2414478Harvard Business Review question prompts: https://hbr.org/2017/03/why-you-should-make-time-for-self-reflection-even-if-you-hate-doing-itWhat are you avoiding? How are you helping your colleagues achieve their goals? How are you not helping or even hindering their progress?IN OUR NEXT EPISODE...In episode 8 of this season, we'll be discussing the importance of ‘perseverance' when it comes to making important decisions. Don't miss it!

Heraclitus famously said ‘change is the only constant in life'. We change - as we mature and age - and the world around us is constantly changing. Sometimes we are drivers of change, based on the choices we make. Sometimes change happens to us whether we like it or not. By being adaptable, we can navigate through our changing environment, learning from our mistakes and maximising our chances of achieving our goals.LINKShttps://www.forbes.com/sites/forbesbooksauthors/2023/03/13/adaptability-the-secret-sauce-of-leadership/?sh=1c32708e42daHodges, J., & Gill, R., (2015). Kodak: Reacting to core market changes. In Sage Business Cases. SAGE Publications, Ltd., https://doi.org/10.4135/9781526405340Tim Harford, ‘Adapt: Why Success Always Starts With Failure' (Picador)

In episode 5 of season 5, we discuss the attribute of having courage and why it is important for good decision making. WHAT TO DO?You can enhance your own or your organisation's courage by:leaving your ego at the doorspeaking less and listening moreencourage dissent and admit when you are wrongdeliberately seek out information, with an open mindLINKSWant to learn more about becoming more courageous? Here's links to some interesting articles:1. TEDx: https://www.youtube.com/watch?v=CopAQ88_QfY 2. When leaders heed the lessons of mistakes: https://onlinelibrary.wiley.com/doi/full/10.1111/peps.125703. Conducting a pre-mortem: https://hbr.org/2007/09/performing-a-project-premortem IN OUR NEXT EPISODE...In episode 6 of this season, we'll be discussing why it is beneficial to be ‘adaptable' when it comes to making important decisions. Don't miss it!

In episode 4 of season 5, we discuss the attribute of being knowledge hungry and why it is important for good decision making. WHAT TO DO?You can enhance your hunger for knowledge by:reading every day, channel Warren Buffetdeliberately seek out information, with an open mind, being open minded is key, otherwise all that new knowledge is not informing your decisionsthink like a scientist: accept how little you know and form hypotheses, run experiments, and consistently rethink your understanding of the world LINKSWant to learn more about becoming more knowledge hungry? Here's links to some interesting articles:https://www.entrepreneur.com/leadership/25-surprising-facts-about-warren-buffett/290381https://adamgrant.net/book/think-again/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2319992IN OUR NEXT EPISODE...In episode 5 of this season, we'll be discussing why it is beneficial to be ‘reflective' when it comes to making important decisions. Don't miss it!

In episode 3 of season 5, we discuss the attribute of realistic optimism and how it helps us be better decision-makers. SUMMARYRealistic optimism accepts the reality - both good and bad - of every situation, but applies a positive attitude to make the best of the situation and pursue our goals with energyPessimism isn't the same as realism. Pessimism focuses on unlikely negative outcomes and ignores the statistical likelihood that something bad will happen. Being sceptical means not accepting things on face value - it is a questioning, curious mindset that serves us better than pessimismWe can build realistic optimism by applying the ABC framework to analyse how we respond to adversity, adjusting our beliefs to support a more constructive decision that produces better consequences that help us achieve our goalsRESOURCESCurious to learn more about realistic optimism? Here's the details of some interesting articles:https://www.forbes.com/sites/forbescoachescouncil/2021/01/07/how-to-incorporate-realistic-optimism-into-your-life/?sh=24d6696876f0 Carver, Charles S., Michael F. Scheier, and Suzanne C. Segerstrom. “Optimism.” Clinical Psychology Review 30, no. 7 (2010): 879–89. https://doi.org/10.1016/j.cpr.2010.01.006.Jefferson, Bortolotti & Kuzmanovic, ‘What is Unrealistic Optimism?', Consciousness & Cognition, 50 (2017)Martin Seligman, ‘Learned Optimism: How to Change Your Mind and Your Life' (Vintage Books; New York, 1990)Are you, or someone you know, negatively impacted by gambling? Here's a couple of links that might help:https://www.gamblinghelponline.org.au/https://www.helpguide.org/articles/addictions/gambling-addiction-and-problem-gambling.htm IN OUR NEXT EPISODE...In episode 4 of this season, we'll be discussing the benefits of being 'knowledge-hungry'. Don't miss it!

In episode 2 of season 5, we discuss the attribute of purpose and why it is important for good decision making. And also why it's essential for success in life more generally.WHAT TO DO?You can enhance your purpose by:set short and medium term goals to keep you on track towards your bigger, purpose-driven goals, like being fit and healthyencourage intrinsic motivation in others by asking questions like “how did you grow today and what do you need for tomorrow?” rather than “what did you achieve today?”in the workplace, when decision-makers understand the organisation's purpose, they can best evaluate and make a decision based on how well it contributes to the purpose LINKSWant to learn more about developing your purpose? Here's links to some interesting articles:https://pubmed.ncbi.nlm.nih.gov/18999339/https://positivepsychology.com/increase-intrinsic-motivation/https://www.litcharts.com/lit/outliers/chapter-3-the-trouble-with-geniuses-part-1IN OUR NEXT EPISODE...In episode 3 of this season, we'll be discussing why it's beneficial to be ‘realistic' when it comes to making important decisions. Don't miss it!

In episode 1 of season 5, we discuss the attribute of curiosity and why it is important for good decision making. You'll also hear a short excerpt from our interview with Kirsten Siggins and Kathy Taberner - the full interview is available as a bonus episode.WHAT TO DO?You can enhance (or revive) your innate curiosity by:asking questions (don't let your pride quench your curiosity)getting outside and redeveloping a sense of wonder at the amazing world we live inidentifying gaps in your knowledge - acknowledging what we don't know can help us to be curiousunderstanding that curiosity will uncover some interesting options that you might never have otherwise considered LINKSCurious to learn more about curiosity? Here's links to some interesting articles:https://www.bbc.com/worklife/article/20220831-curiosity-the-neglected-trait-that-drives-success https://greatergood.berkeley.edu/article/item/six_surprising_benefits_of_curiosity https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4635443/ IN OUR NEXT EPISODE...In episode 2 of this season, we'll be discussing why it is beneficial to be 'purposeful' when it comes to making important decisions. Don't miss it!

In this episode we chat with Kirsten Siggins and Kathy Taberner, co-authors of 'The Power of Curiosity'. You can find out more about their work at www.instituteofcuriosity.com or follow them on LinkedIn (https://www.linkedin.com/in/kirstensiggins/) and Instagram (https://www.instagram.com/instituteofcuriosity/).

Five lessons from two-time world debating champion Bo Seo's book 'Good Arguments'

In this episode we chat with Dr Patrick Kilcarr, a psychologist and adjunct professor at Georgetown University in Washington D.C. and author of the book ‘Leading an Emotionally Intelligent Life'. He covers so many different topics, including choosing to heal, and how our mindset can change our perception of things.Once we make the decision we want to grow, change or heal, we need to commit ourselves to some honest self-reflection, as Dr Kilcarr says in his book, ‘self reflection is the cornerstone of self-correction'.Find out more about Dr Kilcarr's work here: https://www.eitrainingcompany.com/eq-i/https://theeilife.com/patrick-kilcarr/

In this interview, we chat with Erin Longmoon, CEO of employment company Zephyr Connects, about the process of selecting a new employee or new employer. Erin encourages us not to settle for second best when it comes to choosing a job. Erin also gives some tips on how to identify what a company or individual's real values are and explains why the social-emotional component of a workplace is so important.If you want to learn more and grab some more tips, check out Zephyr Connects' website - https://www.zephyrconnects.com (You can also find Erin on LinkedIn)

In this interview, we chat with coach Sarah Burrows. She focuses on helping her clients manage career shifts, and she shares some great insights about her own decision making journey too. Lots of tips for anyone contemplating taking a leap out of their current role.If you want to learn more, check out Sarah's website - https://www.achievingambition.com/. You can also follow Sarah on Instagram @achievingambition_

In this interview, we chat with personal trainer, physical therapist, Iron Man competitor and all-round nice guy Dr Chris Boettcher about turning our health and fitness goals into results. As well as sharing some fitness hacks, Chris talks about his own life journey and his decision to leave his job as a physical therapist to pursue his passion project. Chris talks about the trick of 'stacking bricks' to achieve big goals, and explains his mantra of 'don't miss twice'. If you want to learn more, check out Chris's website - www.brother2brotheru.com. You can also follow Chris on Twitter (or 'X') - @chrisboettcher9

In this episode we chat with amazing percussionist, music teacher and author of the book 'How to Get Good', Tsoof Baras. We talk about how, having made the decision that we want to improve at something, we actually see that improvement manifested.You can listen to Tsoof's music, find out more about him and buy his book through his website www.tsoofbaras.comIf you're enjoying the show, make sure to subscribe and drop us a review on your favourite podcast player!Thanks!Ken & Tess

This is the final part of a mini-series of three episodes in which we chat with Australian neuroscientist Dr Mark Williams. Dr Mark highlights why we should never stop learning, a lesson we live and breathe here at How to Choose! There are no more excuses that we're just too old to learn something new. Old brains aren't less plastic, any difference is due to inactivity, not ageing. And finally he explains why socialising is one of the best things we can do for our brain.Like to know more about Dr Mark? Visit Dr Mark's website - www.drmarkwilliams.com where you can pre-order his new book 'The Connected Species' . Keen to dig deeper? A study of 27,000 people found that the earlier kids get smartphones the worse their mental health as adults. Check out 'Memory' by Lisa Genova.Like what you're hearing? If so, we'd be most grateful if you could take two minutes and drop us a rating and review on your podcast player. Thanks!

This is part 2 of a mini-series of three episodes in which we chat with Australian neuroscientist Dr Mark Williams. Dr Mark explains how mirror neurons work, and how essential they are, scientists actually think this is how babies learn to talk! So when speaking to your baby, face them so they can see how your lips move.Every time we get distracted we 'task switch', there's really no such thing as multitasking. Every time you check a notification on your phone you lose time having to go back and refocus on your previous task. Even the ding is enough to get you to task switch, you don't even have to check it! So turn off those notifications so you can stop being busy and start getting things done.Like to know more about Dr Mark? Visit Dr Mark's website - www.drmarkwilliams.com where you can pre-order his book 'The Connected Species'. And make sure you tune in for episode 3 of this fascinating discussionLike what you're hearing? If so, we'd be most grateful if you could take two minutes and drop us a rating and review on your podcast player. Thanks!

This is part 1 of our interview with neuroscientist Dr Mark Williams. Dr Mark shares his remarkable transformation from an angry student whose principal thought he'd end up dead or in prison to a professor of neuroscience. He takes us on a lightning tour of the parts of the brain involved in decision making and describes the remarkable way our brain presents us with an illusion of the world around us. Like to know more about Dr Mark? Visit Dr Mark's website - www.drmarkwilliams.com where you can pre-order his new book 'The Connected Species'. And make sure you tune in for episodes 2 and 3 of this fascinating discussionKeen to dig deeper? Check out https://www.youtube.com/watch?v=KMQIuLQG09o for a really nice, simple video, 20 minutes in length, that explains the body's fight-flight response. This introduces you to the roles of the amygdala, hippocampus, hypothalamus, autonomic nervous system/sympathetic nervous system, adrenal gland (and the hormones norepinephrine, adrenaline and cortisol) and the cortex with some nice diagrams.Like what you're hearing? If so, we'd be most grateful if you could take two minutes and drop us a rating and review on your podcast player. Thanks!

This episode wraps up season three where we've explored the topic of thinking problems and we've looked at eight different biases that impede our decision making. A heuristic is a mental shortcut that helps us make quick, but often less than optimal decisions. The benefit is that they allow us to make quick decisions based on approximations, mental shortcuts, and educated guesses. But the downside is that they often lead us to make flawed decisions.Season three of How To Choose has demonstrated that rational economic theory doesn't explain the way that humans interact with the world. Behavioural economics shows that often our thinking and our decision making are not rational. The fictional species homo economicus that economists might talk about is dead. We are homo sapiens, we're flawed, we're messy.KEY TAKEAWAYSBefore making important judgments or decisions, pause. Ask yourself, what are the thinking problems that might be clouding my ability to think clearly and make a good decision here? And to avoid drawing a blank when you ask yourself that question, you need to spend some time reflecting on these different common biases.But don't beat yourself up when you fall victim to one of them. They are so common, and we know that even experts in decision making, like judges, are susceptible. Observe when you may have demonstrated one of these biases and make sure you are learning from it so you can make a better decision next time.LINKSThere are so many great resources available online to dive more deeply into thinking problems, here are a few to get started:https://thedecisionlab.com/biaseshttps://insidebe.com/articles/heuristics/https://fs.blog/biases-and-blunders/IN OUR NEXT EPISODE...This is the end of season three, keeps your ears open for season four!For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

In this episode we explore the heuristic known as groupthink, we find it hard to resist the pull of the group, and often end up conforming. There are actually two types of group think. Informative influence is when you are the non-expert and you trust that the group knows better. The other is normative influence: when you actually know better than the group, but you decide to conform rather than rock the boat. So while you publicly conform and go along with the group, when you're away from the group you would actually think and behave differently.KEY TAKEAWAYSThe group as a whole will benefit from hearing dissenting views. Without them, you end up with catastrophes like the Bay of Pigs.It happens most often in cohesive groups that don't get a lot of outside views. It's worse when there is a powerful, respected or important leader too. In the interest of group unity people willingly suppress their opinions. And sadly, often the first idea suggested by the leader will be adopted. One way to avoid this is to make sure your leader doesn't say what their view of the situation is until they have heard from everyone else.Whatever group you're in, you want to encourage diversity as homogenous groups, insulated from outside opinions are the most susceptible to groupthink. So think about how you can diversify your group, or for significant decisions you might want to invite an outside expert, or have someone play the Devil's Advocate, particularly if your group is too homogenous.LINKSCheck out the book ‘You're About to Make a Terrible Mistake!' by Olivier Sibony.Watch the scene from ‘Dead Poet's Society' that demonstrates our tendency to conformity.This video gives you an overview of the Milgram obedience experiment .The 1995 study by Hogg and Vaughan found that conformity reaches its full extent with 3-5 person majority, with additional numbers after that have little effectThis video takes you through the Asch conformity experiment.The 2015 McKinsey report ‘Why diversity matter' highlights why we want diverse teams and management in particular.Check out the great Harvard Business Review article ‘Why Diverse Teams are Smarter'. WHAT TO DO?Make sure the leader of your group speaks last.Encourage diversity in your groups.Let people answer individually or anonymously, before sharing with the group.IN OUR NEXT EPISODE...In our next episode we have our season finale! Which will be a great opportunity to refresh your memory about everything you've learned so far, and learn a few new things as well.For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

Ever find yourself unwilling to give something up, despite being convinced that this is the best decision? You might be suffering from loss aversion.KEY TAKEAWAYSHumans have a stronger emotional response to a loss than to a gain of equal value. As the decision lab points out, it's better to not lose $20 than it is to find $20Loss aversion is closely related to something called the endowment effect where humans assign greater value to goods that they own than to identical goods they do not own. Our vulnerability to loss aversion is exploited by insurance companies and by any company that offers you a free trial - realising that it will be hard for you to give up that subscription once you have it.LINKSThis journal article describes observations of the body's physical response to loss aversion.WHAT TO DO?Pause and reflect - are you unhappy in an area of your life? What's stopping you from making a change? Sometimes the reason can be that we're more concerned about what we might lose than what we might gain. If so, loss aversion might be at play.Be aware next time an insurance company tries to get you to upgrade your cover. Loss aversion can make us irrationally afraid. IN OUR NEXT EPISODE...In our next episode we'll be talking about group think - don't miss it!For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

Optimism bias refers to our tendency to overestimate the likelihood of experiencing positive events and underestimate the likelihood of experiencing negative events. An unfounded optimism can actually cause you to choose behaviours that are not in your best interest, because you underestimate the chance that bad things will happen to you.KEY TAKEAWAYSThis is not about suppressing your optimism! But about not being naively optimistic. We don't tend to update our beliefs with negative information as much as we do when compared to positive information.LINKSCheck out the TED talk by neuroscientist Tali Sharot which describes how optimism can act as a self-fulfilling prophecy. By believing that we will be successful, people are in fact more likely to be successful. This kind of optimism enhances well-being by creating a sense of anticipation about the future.We referred to the likelihood of getting into a crash in Australia. To explore these statistics further check out these websites including on the much higher rates of young men in crashes.Studies have found that those who expect success at exams may get over-confident and fail to prepare for tests as well as their more anxious peers.WHAT TO DO?To avoid the optimism bias you can use base rates, which if you missed it was discussed in episode 6 of this season! Base rates provide quantitative data to anchor our judgements, so they get us out of our emotional subconscious, reflexive decision making heads. Base rates can be the probability of an event occurring, the average time something takes, or whatever figure fits the situation–as long as the base rate is from existing data. Another way to avoid this bias it to try the ‘premortem approach' which helps you predict areas of potential failure when starting a project. You, or your team need to imagine a year into the future when your project has failed. Write down what has gone wrong and why. By considering negative outcomes, we can resist the shortsightedness of optimism bias.IN OUR NEXT EPISODE...In our next episode we will be learning all about loss aversion.For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

How do you approach decisions or judgements that rest on the likelihood of something being true or the likelihood of something happening? Most of us find it difficult to take into account a critical factor known as the base rate.KEY TAKEAWAYSWhen it comes to making judgements and decisions, humans are hardwired to do a couple of things that are often - but not always - helpful.One thing that's true of all humans is that we love patterns. Our brain will try to match things we see and hear to patterns or templates that we've accepted as true. We see a person or hear a description of them (such as the fictional Tom who we describe in this episode) and we subconsciously form some assumptions about that person. Those subconscious assumptions can be exposed when we're asked to make a prediction about that person - and 'Presto', Tom becomes a librarian - or a tradesman.But when we're focused on a single individual or a particular situation, we're ignoring the broader population. Base rate neglect is that tendency to ignore the statistical likelihood of something being true. We also have a strong tendency to see ourselves as exceptional. For some reason we think that statistics don't apply to us. Sure, most registered actors don't find work - and those that do earn generally don't earn enough to make a living. But somehow we all think things will be different for us. This is base rate neglect.LINKSIf you haven't already got a copy, do yourself a favour and buy 'The Scout Mindset' by Julia Galef. Galef illustrates base rate neglect and a related thinking problem that we'll address next episode called 'optimism bias' really well in that book.Want to ponder false positives and false negatives a bit more. Check out https://www.mathsisfun.com/data/probability-false-negatives-positives.html (I can't guarantee that it will be fun, but it explains it pretty well!)Here's a nice little explanation of correlation vs causation if you want a refresher - https://www.understandinghealthresearch.org/useful-information/correlation-and-causation-15 And if you've never seen the spurious correlations website, it's hilarious: https://www.tylervigen.com/spurious-correlations (surely it can't be purely coincidental that per capita cheese consumption correlates with the number of people who died by becoming tangled in their bedsheets?!!WHAT TO DO?How do we reduce the impact of base rate neglect on our judgements and decisions? Pause. Yes, pause. That's essential for mitigating the impacts of all biases. Quick thinking (often called system 1 thinking) is useful when you see a bear in the woods, but less useful when you're deciding whether to invest your hard-earned savings into your friends' new start-up. And while you're pausing, ask - 'What do the statistics have to teach me here? What is the likelihood that... (fill in the blank - e.g. '...Tom is a librarian?' / '...John and Louise's cafe will be successful?' / '...I will win the lottery?'). We can all be fortunate. We can all become above average at some things - perhaps even exceptional and highly successful. But statistics matter and at some point, the bell curve tolls for us all!If you've enjoyed this episode, please take two minutes to rate us on your podcast player and tell a friend about the show.IN OUR NEXT EPISODE...Next episode we'll be talking about optimism bias - one we're both rather susceptible to!For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

Hindsight bias is our tendency to look back at unpredictable events and think it was easily predictable. It is also called the ‘knew-it-all-along' effect.The hindsight bias can have a negative influence on our decision-making, as part of what helps us make good decisions is realistically assessing the consequences of our decisions. This bias can lead to overconfidence in our prediction ability. This can be bad, as overconfidence may lead us to take unnecessary risks. According to Neal Roese and Kathleen Vohs, there are three levels that this occurs: memory distortion, a belief that a past event was inevitable or that it was foreseeable. So, the bias occurs when we misremember our past thoughts, think a past event was inevitable, and subsequently, believe the event was foreseeable.KEY TAKEAWAYSReflection is key to recognising hindsight bias. Our memories can be deceptive, it can take a lot of dissecting to figure out if you really did ‘know it all along' or if you are just exhibiting hindsight bias. Maybe an event wasn't as inevitable as you now think it was, imagine all the other ways that the scenario might have played out. Instead of assuming that you have incredible foresight, is there some other lesson you could learn from that event?LINKSElections, sporting matches, the share market are all areas where we exhibit hindsight bias. Did you really call the last election correctly, or were you like 20% of college students in one study and exhibited hindsight bias. It's easy to do, and hard to recognise in ourselves.To learn about the fallibility of our memory check out ‘Remember' by Lisa Genova.WHAT TO DO?Keeping track of your decisions, and your reasoning behind them is the easiest way to avoid hindsight bias. It will help you accurately reflect on your decision making process and to learn from your mistakes.IN OUR NEXT EPISODE...In our next episode we explore the impact of base rate neglect.For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

In this episode we explore the thinking problem known as 'availability bias'. Availability bias is the tendency to pay more attention to - and give more credence to - information that springs to mind quickly.KEY TAKEAWAYSOur memories are more fallible than many of us realise. For the vast majority of us, enduring episodic memories are only formed for events that have a strong impact on us.We also discuss the error of 'substitution' - the tendency to subconsciously reframe a difficult question so that we're answering something subtly different to the question we were asked.LINKSInterested to learn more about how our memory works? Check out the fascinating book 'Remember' by Lisa Genova.WHAT TO DO?Remember that your memory isn't always reliable (which given your memory's weaknesses might be hard to do!!) Just because a 'fact' or an incident jumps into your mind, that doesn't mean it is the most accurate or useful information to support a judgment or decision.IN OUR NEXT EPISODE...In our next episode we examine the unusual tendency towards 'hindsight bias'. You'll find it fascinating - just remember we told you so :)For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

In this episode we explore the heuristic known as the anchoring bias and just like physical anchors, they weigh us down, and influence our decisions. Anchoring bias occurs when we rely too heavily on pre-existing information or the first piece of information (the anchor) when making a decision.This impairs our decision making and judgement in many ways. Sometimes inadvertently, and sometimes it's used against us, to try and influence our decision making.Anchoring bias is one of the most robust effects in psychology. The bias also holds up even when the anchor is obtained by something completely random like rolling dice, and amazingly, even when researchers remind people that the anchor is irrelevant and should not be considered. We are that easy to influence! KEY TAKEAWAYSLike all of the biases we explore these season, learning about them will help you realise when you are about to succumb to one! So for anchoring, next time you are offered an initial anchor, pause, realise it's an anchor and take the time to dissect that anchor. Do some research and don't respond straight away, as we know we don't adjust enough from the initial anchor. Or even better, you provide the anchor to others, this is especially useful in negotiations!LINKSSadly, expertise and experience do not reduce the anchoring effect. To learn more about some of the research on how judges are susceptible learn more here.When it comes to personal injury lawsuits, the more you ask the more you tend to get, the same is true in many other areas too, as everyone is susceptible to anchoring.WHAT TO DO?Despite the prevalence of anchoring, by listening to this episode you've taken the first step. The next step is to deliberately assess anchors you're given. Look at the anchor and ask yourself why this isn't accurate or fair. Another option is to make a judgement call before you've been anchored. When you go to buy a car, have a price that you think is fair for the year, make and model. Anchoring works best when we don't know the answer or haven't formed our judgement yet.IN OUR NEXT EPISODE...In our next episode we explore the impact of availability bias.For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

In this episode we explore the common thinking problem known as 'confirmation bias'. Confirmation bias is the tendency to pay more attention to - and give more credence to - information that supports our beliefs. In contrast, confirmation bias makes us less likely to listen to information that challenges our beliefs.KEY TAKEAWAYSYou can't completely overcome confirmation bias, but you can train yourself to pay more attention to the judgments you make.Whenever you make an assertion, or a generalisation, take a close look at it. What are you actually saying? And what data is this based on? Are you looking for data - or at least looking carefully at data - that disproves your belief? An excellent question to ask yourself is: ‘What would convince me that I was wrong?' If your answer to this is 'Nothing! I know I'm right!!', then you might need to reflect a bit harder.When you ask someone for their opinion, are you really open to them disagreeing with your decision or judgment? Or are you really just hoping they'll agree with you and tell you that you're right? And when you do ask someone's opinion, you'll be more likely to get a fulsome response if you ask a neutral question such as 'I'm not asking you to tell me what to do, but what do you think the pros and cons might be if I chose this option?' If you ask leading, closed questions such as 'This is a good choice isn't it?', or even leading, open questions such as 'What do you think are the benefits of taking this job offer?', you are directing the other person to focus their answer quite narrowly and they are likely to apply a 'positive test strategy' when answering.LINKSWe strongly recommend the book 'The Scout Mindset' by Julia Galef. The basic premise is that we should avoid confirmation bias and instead pursue the truth. A great read (or listen if you buy it on Audible).IN OUR NEXT EPISODE...Join us next episode when we look at the weighty topic (haha) of anchoring bias!And if you've enjoyed the show, we'd be most grateful if you'd tell a friend (or an enemy whose behaviour you'd like to improve)!For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

In Season 3 of How to Choose, we're exploring the topic of thinking problems or biases that get in the way of making accurate judgements and good decisions. We'll look at eight common problems and suggest some ways that we can reduce (but sadly not eliminate!) the impact of these problems.KEY TAKEAWAYSYou're probably not as rational as you'd like to think - but that's okay, that's how our brains have evolved. Emotional - non-rational - responses can sometimes offer survival benefits. Learning to recognise common thinking problems is a really important step towards making fewer poor judgements and decisions!LINKSIf today's topic piqued your interest and you'd like to learn more about behavioural economics, check out the resources tab on our website - https://goodbetterright.com.au/resource/ WHAT TO DO?Our brains don't allow us to be complete rational and logical - but don't despair. Acknowledging the impact irrational thinking can have on our decision making is a good first step. Listen to the rest of season 3 to learn more about these 'thinking problems' and how you can reduce the impact they have on your judgements and decisions. IN OUR NEXT EPISODE...In our next episode we explore the very common thinking problem called 'confirmation bias'. Don't miss it! For more episodes and information about decision making head over to our website: https://goodbetterright.com.au/podcast/Tessa Mudge and Ken Smith

How to Choose - SHOW NOTESwww.goodbetterright.com.auChristmas Decisions!Tessa Mudge & Ken Smith INTROBuying gifts for our loved ones can be a meaningful and gratifying experience.It can also generate unwanted stress and financial pressure.In this special Christmas episode, we offer a few suggestions to help you navigate the 'gift buying' season.KEY TAKEAWAYSDon't fixate on finding the perfect gift - perfectionism exacerbates your stress and sets everyone up for disappointmentEstablish parameters - price limits, themes etc. can help reduce financial pressure at ChristmasFind out what they valueUnderstand their goalsThe thought really does count!Treasure the intangibles - friends, family, faith - think about what you value and focus on that. LINKSTo be in with a chance to win one of two copies of Julia Galef's excellent book The Scout Mindset, just fill out a short survey about our show. Here's the link: https://us20.list-manage.com/survey?u=a66c7aad9b1103029408dfb48&id=6efe250f51&attribution=falseGalef says of her book: "The Scout Mindset is about how, concretely, to keep from fooling yourself. Throughout the book, I lead the reader through key techniques for becoming aware of your own rationalisations, making more accurate predictions, learning from disagreements, and noticing what you're wrong about."WHAT TO DO?We'll be back in February with season 3 - don't miss it!

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 9 : The AthleteTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode we chat to former British Open squash champion, Anthony Ricketts, to learn about what decision making looked like for him as a professional athlete. We discuss the early decisions that set him on the pathway to success, the challenges of dealing with serious injuries, and the choices he faced as he tried to find a career after squash.KEY TAKEAWAYSSurrounding yourself with colleagues or mentors who are more skilful or experienced than you are is critical if you want to improve.And having a clear focus and a degree of single-mindedness is a key attribute if you want to reach 'elite levels' in your profession.WHAT TO DO?In addition to subscribing/following our podcast, you can sign up to follow our BLOG at https://goodbetterright.com.au/follow-good-better-right/ We'd love to hear from you as we plan for future seasons and episodes, and will be sending out a survey soon. Make sure you take the time to fill it out and let us know what you want to hear!

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 8: The CEOTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode we chat to Melodie Potts-Rosevear CEO of Teach For Australia, a not-for-profit organisation. We hear how she went from a small town in the US, where she was the first in her family to go to college, to eventually founding an organisation in a foreign country with the incredibly hard and worthy goal of ending education disadvantage in Australia.KEY TAKEAWAYSSometimes we ignore pathways (perhaps subconsciously) because we don't know someone else who has been there first. If you don't have a broad network, deliberately seek out and engage with people in areas that seem interesting to you. Getting to know someone that has chosen a different path to you might make a switch not seem so daunting. Also, if you are in a leadership position, think about who you might be able to mentor or reach out to. ‘You can't be what you can't see' and ‘you can't try what you don't know' apply here.Interviews can be a great way to help you make a decision about your career path. See it as a chance to get to know the culture of the organisation you may be joining. This is your opportunity to interview them, while you're being interviewed. Sometimes the best decision that you can make, is the decision that keeps your options open. Mel wasn't sure what she wanted to do after college, so she ended up choosing management consultancy as a way to keep her options open for a while longer. A decision that ultimately led her to start Teach For Australia.As you get more senior, sometimes your decision is actually when to delegate. You need to be able to trust your team and know when you're not the expert in the room, or when there's someone who might be better suited to making the decision.Making a decision is only the first step, there is also a ‘doing something' phase of decision making. Until you take action, all you have is an idea.Finally, Mel talks about leadership as imagining a different reality from what you see and making the decisions that will take others to that place.WHAT TO DO?If you're enjoying the topic of decision making and think our show could help others, please let them know about us. You can find the show on all major podcast apps and players! And come check out our website - www.goodbetterright.com.auIN OUR NEXT EPISODE...In our next episode we hear from Anthony Ricketts, former British Open squash champion.

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 7 : The PrincipalTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode we chat with Doug Braiden, the College Principal at Faith Lutheran College in Queensland's Lockyer Valley. Doug discusses his surprising change of career from police detective to high school teacher and reflects on the challenges and opportunities of decision making in both professions.KEY TAKEAWAYSJust because things have always been done a certain way, doesn't mean there isn't a better way! To innovate well, understand the system you work in, understand the goals you're trying to achieve and think creatively about how those goals might be better achieved in that context. Be driven by your purpose, not your process.If you're considering a change of profession, consider whether there might be a role that sits like a 'shoulder' between the two jobs that could allow you to apply the skills from your old job in a new setting. For Doug, the shoulder between police work and education, was his role at the Queensland College of Teachers investigating allegations of teacher misconduct. In that role, Doug was apply a fairly unique skillset in a niche role, identifying opportunities to improve their business practices, before moving back into the school environment. A lot of brilliant innovation is born in those areas of overlap where creative thinkers apply knowledge from one field into another.The Queensland Police apply the SELF test to support decision making. Will the decision pass the Scrutiny of the public? Is it Ethical? Is it Lawful? And is it Fair? What this demonstrates is that complex decisions require us to consider different factors - if we think too narrowly, we can make poor choices.Finally, Doug's passion to want a make a difference and his belief that every individual has value and worth are what drive him. Finding the things that drive you and make you want to get out of bed each day is a great starting point when you're trying to make career choices.LINKSHow awesome was it to hear about some of the innovative approaches being applied at Faith Lutheran College! Check out their website to learn more - https://faithlc.qld.edu.au WHAT TO DO?If you're enjoying the topic of decision making and think our show could help others, please let them know about us. You can find the show on all major podcast apps and players! And come check out our website - www.goodbetterright.com.au IN OUR NEXT EPISODE...In our next episode, we hear from Melodie Potts-Rosevear, the CEO of the not-for-profit organisation Teach for Australia. Make sure you check it out!

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 6: The ArtistTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode multimedia artist Kirra Cheers reflects on intuition in decision making, planning and how important talent is to success KEY TAKEAWAYSBeing good at something isn't always enough to be successful, according to Kirra you need a certain level of obsession as well. It still pays to follow the advice to do something you're good at and enjoy, but perhaps before quitting your day job think about whether you have an obsession, or just a hobby.We talk about the importance of focusing on the important but not urgent tasks in Steven Covey's Urgent/Important matrix. Time spent here is what is likely to make you successful.Taking calculated risks is essential to progress in most endeavours but particularly in small businesses or creative pursuits. Kirra talks about how easy big - seemingly risky - decisions were for her because her goals have always been so clear. Check out out 'Stay or Go' episode in season two for more on this topic.LINKSIf you want to see some of Kirra's work check out her website: https://www.kirracheers.com/aboutOr her Instagram: https://www.instagram.com/kirracheers/?hl=enOr her current creative collaborators, Mad Gene Media: https://madgenemedia.com/WHAT TO DO?If you enjoyed the show, drop us a message at contact@goodbetterright.com.au or leave a review on your podcast player. (Thanks in advance!)IN OUR NEXT EPISODE...We'll hear from Doug Braiden, a school principal and former police detective. He talks about how he has been able to transfer skills between what, on the surface, might seem very different professions. And he shares his passion about teaching and shares his vision about how secondary education can be transformed.

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 4 : The Property InvestorTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode property investor Lachlan Vidler offers some useful tips on how to make investment decisions.KEY TAKEAWAYSGood decisions are informed by reliable data. Be wary of false confidence in areas where you don't have expertise (this is known as the Dunning-Kruger effect). Also be wary of confirmation bias an extremely common cognitive flaw in which we are much more interested in information that seems to confirm what we believe already. It takes practice (and humility), but you can train yourself to pay careful attention to data that challenges your beliefs - and by doing this, you reduce the chance that you'll make errors and poor decisions.Emotions shape our decisions. Learn to identify the emotions that are impacting you and give yourself time to reflect before deciding. This gives the rational parts of your brain - in your frontal lobes - an opportunity to shape your decisions, rather than just being driven by the emotional centres of the brain (the limbic region). LINKSIf you want to know more about Lachlan's company Atlas Property Group, here's the link - https://atlaspropertygroup.com.au Our recommended book of the week (or maybe even book of the year!) is 'The Scout Mindset' by Julia Galef. This is a great read (or listen - it's also available in audio form), and challenges us to abandon the soldier mindset that so often limits our ability to see the truth. Tess also mentioned Daniel Pink's book, which is titled 'Drive'.WHAT TO DO?If you enjoyed the show, drop us a message at contact@goodbetterright.com.au or leave a review on your podcast player. (Thanks in advance!)IN OUR NEXT EPISODE...We'll hear from Kirra Cheers, a New York-based photographer and artist, who'll talk about how she navigates big career decisions. Make sure you don't miss it!

How to Choose - SHOW NOTESwww.goodbetterright.com.auSeason 2, Episode 4 : The PoliticianTessa Mudge & Ken Smith INTROIn Season 2 of How to Choose, we interview guests who work in a range of different professions to see what they can teach us about decision making in their specific work contexts - and about how they first chose to enter their profession. In this episode we interview Allegra Spender an Australian politician and businesswoman who has been the member of parliament for Wentworth since 2022. She is the third generation of her family to sit in federal parliament, after her father and grandfather. Spender ran on a platform of action on climate change, political integrity, and gender equality. KEY TAKEAWAYSSpender highlights the benefits of 'try before you buy' before making a decision. That could mean job shadowing or working for a few days in a new role before making the decision to transfer permanently.While your values should align with your chosen career they are not enough by themselves. You also need to have the right skills and personality for the jobs that you do. Picking something on values alone does not guarantee success, for you or your employer.Decision making doesn't have to binary, sometimes the right decision might be multiple options, or deferring or delegating. Julia Galef in The Scout Mindset encapsulates this idea: ‘There are lots of ways to change the game board you're playing on so that you end up with better choices, instead of simply resigning yourself to picking the least bad choice currently in front of you.' WHAT TO DO?If you're enjoying the show and finding it useful, share something you've learned with a friend. You'll reinforce that learning for yourself, your friend will learn something, and we'll benefit by new people finding our show. It's win, win, win!IN OUR NEXT EPISODE...Tune in for our next episode as we chat with Lachlan Vidler, founder and owner of Atlas Property Group. He shares some excellent advice on starting a business as well as tips on personal property investment!

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 2, Episode 3 : The Entrepreneur Tessa Mudge & Ken Smith INTRO In this episode we interview entrepreneur Alex Leech to understand more about how he turned his coffee addiction into a thriving business. KEY TAKEAWAYS Choice can be an evolution, it's not always a clear crossroads, but can be incremental. When creating a business it may be helpful to take a hedge pruning approach (see Season 1 Episode 4) and allow for a natural path of growth and expansion. Passion is essential in something as hard as starting a business. Extrinsic motivation will only take you so far, to make work seem less like work, do something that you are https://www.verywellmind.com/differences-between-extrinsic-and-intrinsic-motivation-2795384 (intrinsically motivated) by. Knowing when to stop is sometimes a harder decision than whether to start. Opportunity cost should always be considered, as not making a decision is actually deciding to stay, see our https://player.captivate.fm/episode/86fe60d6-9b35-4175-b62e-657c58a2f7b6 (Stay or Go )episode for more on this. Alex Leech has a great moment of self-reflection when he talks about how he decided it was time to sell his business. WHAT TO DO? If you're enjoying the show and finding it useful, share something you've learned with a friend. You'll reinforce that learning for yourself, your friend will learn something, and we'll benefit by new people finding our show. It's win, win, win! IN OUR NEXT EPISODE... Tune in for our next episode as we chat with Member for Wentworth Allegra Spender MP. She is the third generation of her family to sit in federal parliament, after her father and grandfather. Spender ran on a platform of action on climate change, political integrity, and gender equality. She has some excellent insights into choosing the right role for your skills and values and reflects on her journey into politics as an independent.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 2, Episode 2 : The Paramedic Tessa Mudge & Ken Smith INTRO In this episode we interview paramedic Jonno Holmes to understand more about how emergency workers make decisions under pressure. KEY TAKEAWAYS When trying to decide on a profession or change of career, it can be very valuable to consider what we want from a job - and this in turn requires good 'self-knowledge'. To build this self-awareness, pay attention to the things you enjoy. Do you prefer to work alone, or would you rather work with a team? Do you like to be outdoors, doing physical work, or are you more of a cerebral person who likes to read and think? Do you do your best work when your day is predictable, or do you thrive in unpredictable situations? As Socrates said - 'To know thyself is the beginning of wisdom'. When working in a team, poor communication can result in very poor decision making and can lead to critical errors. If you're part of a team and your work uses protocols or 'standard operating procedures', don't forget to communicate clearly so everyone understands what is happening at all times. WHAT TO DO? If you're enjoying the show and finding it useful, share something you've learned with a friend. You'll reinforce that learning for yourself, your friend will learn something, and we'll benefit by new people finding our show. It's win, win, win! IN OUR NEXT EPISODE... Tune in for our next episode as we chat with entrepreneur Alex Leech who explains how he took his passion for coffee and turned it into the thriving business 'Bellerophon Coffee'. And learn about how Alex's ability to reflect and think carefully helped him navigate some tough decisions along the way.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 2, Episode 1: Decisions at Work Tessa Mudge & Ken Smith INTRO In season 2, we cover the topic of decisions at work. We interview a range of fascinating guests with different professions who discuss how they chose their careers and what decision making looks like in their world. KEY TAKEAWAYS Decisions about work are challenging! We spend so much time at work! Various estimates suggest 13 years (between 90000 and 115000 hours) and about 15% of our life - or if we exclude the years that we spend sleeping or trying to get to sleep (33 years), then it's around 26% of our waking hours. Many popular surnames - Smith for example - described an individual's profession - which suggests that in olden days people probably didn't change jobs that often! Our work is often a key way of describing and defining ourselves. And in many cultures, our work reflects our social status. Work can give us a means to make a difference in the world - we can take our passions and harness them to a group or an organisation who can help us achieve those goals. Work requires us to make a multitude of decisions - and generally our employer expects that we get those decisions right. The key factors that shape our decisions in our personal lives may be quite different from the key factors that are supposed to shape the decisions we make at work: values, goals, workplace rules, decision-making authority and implications. LINKS Here's an interesting article from Huff Post that breaks down our life into years spent doing different tasks: https://www.huffpost.com/entry/weve-broken-down-your-entire-life-into-years-spent-doing-tasks_n_61087617e4b0999d2084fec5 (weve-broken-down-your-entire-life-into-years-spent-doing-tasks_n_61087617e4b0999d2084fec5) Enmeshment is a term psychologists use to describe the situation in which the boundaries between people become blurred - that can sometimes happen in the workplace too and is described in this HBR article - https://hbr.org/2019/12/what-happens-when-your-career-becomes-your-whole-identity (https://hbr.org/2019/12/what-happens-when-your-career-becomes-your-whole-identity) WHAT TO DO? Subscribe and follow - we 're pretty sure you'll find this season fascinating! IN OUR NEXT EPISODE... We speak with Jonno Holmes, who reveals what life as a senior paramedic looks like!

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 10 : When the 'right' way is just a 'good' way Tessa Mudge & Ken Smith INTRODUCTION In this episode we explore the implications of defaulting to a ‘right-wrong' evaluation of decisions and choices. Time to stop and think - ‘Is your way of doing things the right way, or is it actually just one of many good ways?' KEY TAKEAWAYS It's easy to fall into the trap of judgmentalism. We find a good way of doing something, then look around and decide that our way is better than the way other people do it. It's a short step from there to start thinking our way is the right way - and by implication, that other people's approach is wrong.  Not everyone wants to optimise (so spare them your judgment!) Non-negotiables and absolute language have a place when making judgments and decisions, but apply them sparingly. LINKS Do you struggle with judgmentalism? You'll find some more useful tips to deal with this problem in https://www.psychologytoday.com/au/blog/shyness-is-nice/201912/six-steps-being-less-judgmental-family-members (this article) from Psychology Today. WHAT TO DO? Are you judging others unnecessarily? Watch your language this week! Listen to how often you use absolute ‘right-wrong' terms when you're describing other people's decisions.  Are you confounded by a decision because you're trying to find the right choice? Instead, could you focus on finding a ‘good' option or the ‘better' of two or three options? Like to get some advice with a tough decision? Drop us a line at contact@goodbetterright.com.au  IN OUR NEXT SEASON… This is the last episode for Season 1. We're going to take a short break, but we'll be back in September 2022 with Season 2, in which we'll be looking at decisions in the workplace and talking with a bunch of guests with different jobs to understand how they approach decision making!

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode9 : The Power of Habits Tessa Mudge & Ken Smith INTRODUCTION In this episode we look at making good habits that actually stick! KEY TAKEAWAYS We make https://www.psychologytoday.com/au/blog/stretching-theory/201809/how-many-decisions-do-we-make-each-day (up to 35 000) decisions a day! Free up decision making space by automating the basic Good habits allow you to be lazy Make a Tiny Habit: Behaviour, Motivation, Ability, Prompt. To make an Atomic Habit you must make them obvious, attractive, easy, and satisfying Channel Jerry Seinfeld and track your habits to make them stick LINKS BJ Fogg's https://tinyhabits.com/ (Tiny Habits ) offers a free 5 day program (basically email prompts) for you to make and stick to your tiny habit. Find out more about James Clear's https://jamesclear.com/atomic-habits (Atomic Habits.) We can recommend Yale's free course ‘https://www.coursera.org/learn/the-science-of-well-being?utm_source=gg&utm_medium=sem&utm_campaign=09-ScienceofWellBeing-ROW&utm_content=B2C&campaignid=9722859275&adgroupid=100391762620&device=c&keyword=online%20courses%20certificate%20programs&matchtype=b&network=g&devicemodel=&adpostion=&creativeid=442206264683&hide_mobile_promo&gclid=Cj0KCQjwg_iTBhDrARIsAD3Ib5i_ZiL9glTYyeC58DKXjZrRrPiLKSKm8MH71KiKB0m09OWtQKedLpIaAh4jEALw_wcB (The Science of Wellbeing') through Coursera. WHAT TO DO? Talk about these concepts with other people - this is a proven way to reinforce learning Subscribe to How to Choose Drop us a line at contact@goodbetterright.com.au  IN OUR NEXT EPISODE… Next episode we'll be learning about the quest for the right choice and how it can sometimes lead you astray.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 8: Stay or Go Tessa Mudge & Ken Smith INTRODUCTION In this episode we look at non-urgent decisions, figuring out what's important, and how to make time for it in our busy lives.  KEY TAKEAWAYS There is no right way, the decisions is always personal  Not deciding feels easy, but remember you are actually deciding to stay! What is the opportunity cost of staying (or going?) Ignore the sunk cost when making your decision We should not be looking for perfection or the ‘right' choice, but the best option for you at the time Self-reflection is essential, what are your values? Workshop your emotions:  Do you feel relieved at the thought of leaving? Can you foresee a future where things will get better if you stay the course? What does an alternative future look and feel like? LINKS The School of Life has some excellent resources, some relevant ones include: https://www.youtube.com/watch?v=IuV80wYRld0 (‘How to Choose A Partner Wisely'). Some https://www.businessinsider.com/how-to-tell-if-someone-is-right-for-you-2018-2 (other tips) for relationship deliberation. And Planet Money's ohttps://www.npr.org/2020/07/07/888690075/summer-school-1-choices-dating (pportunity cost dating episode) is fun. If you think you might be in an unhealthy or unsafe relationship, please https://www.lifeline.org.au/ (seek help.) Failing fast or https://hbr.org/2011/04/failing-by-design (intelligent failure) can save you time and anguish. WHAT TO DO? Talk about these concepts with other people - this is a proven way to reinforce learning Subscribe to How to Choose Drop us a line at contact@goodbetterright.com.au  IN OUR NEXT EPISODE… Next episode we'll be learning about the role of habits in decision making

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 7 : Important Decisions Tessa Mudge & Ken Smith INTRODUCTION In this episode we look at non-urgent decisions, figuring out what's important, and how to make time for it in our busy lives.  KEY TAKEAWAYS The ‘important but non-urgent' quadrant AKA the magic quadrant!  Importance of delayed gratification for achieving goals Don't commit your time on this big projects until you've considered your ‘why' and your values Sticking to your goals with ‘big rocks' LINKS Here's a https://www.youtube.com/watch?v=1jWmJy3nc0k (four minute video )explaining Stephen Covey's Urgent/Important matrix. And a very retro Covey https://www.youtube.com/watch?v=zV3gMTOEWt8 (explaining) how his Big Rocks concept works. Do yourself a favour and learn more about the power ofhttps://www.forbes.com/advisor/investing/compound-interest/ ( compound interest)! There are even https://www.nerdwallet.com/banking/calculator/compound-interest-calculator (handy calculators) to help motivate you to start saving today. We talk about values in this episode to go a bit deeper into what you value and what then becomes a non-negotiable in your decisions making check out this https://goodbetterright.com.au/great-decisions-rest-on-clear-non-negotiables-2/ (blog post). WHAT TO DO? Talk about these concepts with other people - this is a proven way to reinforce learning Subscribe to How to Choose Drop us a line at contact@goodbetterright.com.au  IN OUR NEXT EPISODE… Next episode we'll be learning about opportunity cost, the sunk cost fallacy and its relevance to decision making.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 6 : Urgent Decisions Tessa Mudge & Ken Smith INTRODUCTION In this episode, we talk about how to manage urgent pressures and explore the distinction between urgent and important. KEY TAKEAWAYS We don't need to try and optimise with every decision: Urgency is usually expressed as scarcity - a scarcity of time (‘I need this ASAP') or a scarcity of resources (‘Hurry up, stocks are limited!' We are hardwired to respond to scarcity/urgency - it helped our ancestors to survive an imminent attack or grab scarce food resources In the Urgent-Important matrix (popularised by Steven Covey in the great book ‘Seven Habits of Highly Effective People') we see that urgent and important are not the same thing Beware - if you worry too much about pleasing other people, then all of their urgent requests will also be important to you. LINKS To learn more about the Urgent-Important matrix, check out https://www.thecoachingtoolscompany.com/coaching-tools-101-what-is-the-urgent-important-matrix/ (this website). WHAT TO DO? Here are five questions to ask when presented with an urgent decision and before getting started. Pause and consider - Is the urgent decision also important? And is the urgency real, and not just manufactured to get you to respond? Are you the right person to respond? And if you're the only person available, do you have the necessary skills for the job? What exactly is required? Make sure. you understand the 'brief' before you launch into action. What other resources do you have available (including people)? Presumably you were doing something when the urgent demand landed on your lap. Pause and think - Which of your tasks is the most important and urgent? Take some time to think about how susceptible you are to the demands and distractions of the urgent. What impact is this having on your personal and professional life? Chat with someone about this episode - it's a great way to cement the lessons you're learning. IN OUR NEXT EPISODE... Tune in for our next episode, when we'll talk about those non-urgent - but still important - decisions.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 5 : Too Many Jams! Tessa Mudge & Ken Smith INTRO In this episode, we explore the problem of too many options - those situations where we become overwhelmed by the number of available choices. We answer the question: “Do I always need to optimise (i.e. find the best option) or is there another way?” KEY TAKEAWAYS We don't need to try and optimise with every decision: A fixation on optimising can be paralysing (don't be like Chidi from The Good Place!) Optimising takes a great deal of time and effort - which we don't always have Focusing on optimising can also leave us second-guessing - if I'd looked a bit longer maybe I would have found a better option… LINKS To learn more about Barry Schwartz's work, visit https://bschwartz.domains.swarthmore.edu/ (https://bschwartz.domains.swarthmore.edu) and check out his book ‘The Paradox of Choice' WHAT TO DO? Facing a decision and uncertain whether you need to optimise? Here's a few things to consider: How important is this decision? Would a good option be adequate? What do you want from this choice? Clarity can help you navigate through a multitude of options. You can opt out of our consumer society's obsession with always getting the ‘new and improved' version of everything - be satisfied with the good things you have. Remember - the optimal choice is a bit of a myth. There will always be options out there that are better (against some criteria) than the one you chose. Share something you've learned with a friend or family member - it's a great way to cement the lesson in your mind! IN OUR NEXT EPISODE... Tune in for our next episode, when we'll talk about how to decide when you're inundated with urgent demands. And hurry, episode 6 is only available for a limited time! (just kidding - take your time :-) )

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 4: Adaptable Decision Making Tessa Mudge & Ken Smith INTRO In this episode, we look at hedge pruning, or when you need to keep your options open, and just make small changes to your decisions. We also explore some of the research on the benefits of being a generalist and having a broad range of interests. KEY TAKEAWAYS Trying lots of things and staying adaptable can make us more successful. Modern work demands knowledge transfer: the ability to apply knowledge to new situations and different domains. Consistently choosing little or big risks in pursuit of our goals rather than trying to always make the ‘right choice'. Beware the sunk cost fallacy: where we follow through on an endeavour if we have already invested time, effort, or money into it. LINKS The research on kids from small towns being more successful in sport is explored https://www.wired.com/2010/08/how-to-raise-a-superstar/ (here at Wired). For a bigger dive into the topic check out David Epstein's book: https://davidepstein.com/the-range/ (‘Range: Why Generalists Triumph in a Specialized World'.) Another good book that explores, among other things, the myth of the single choice, is https://www.choosepossibility.com/ (‘Choose Possibility') by Sukhinder Singh Cassidy. The https://thedecisionlab.com/biases/the-sunk-cost-fallacy (sunk cost fallacy) is a classic economic bias. WHAT TO DO? Talk about these concepts with other people - this is a proven way to reinforce learning Subscribe to How to Choose Drop us a line at contact@goodbetterright.com.au IN OUR NEXT EPISODE... Next episode we'll be learning about the dilemma of too much choice and what to do about it.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 3 : Sticking with Your Choices Tessa Mudge & Ken Smith INTRO Some people find it really difficult to stick with their decisions. But sometimes it's important to ‘pick and stick' with our choice - particularly because some goals can only be achieved by persistence and perseverance. KEY TAKEAWAYS Some professional goals can be reached by multiple pathways - but sometimes there's only one clear way to achieve a goal. Any goal that requires high levels of skill, any goal that requires you to stand out from a field of other skilful people, generally requires focus and persistence. According to Angela Duckworth's research, 'grit' (dogged perseverance) is consistently correlated with success - more so than natural ability. THE 'I'M THINKING OF CHANGING MY MIND' CHECKLIST What was your goal when you first made the decision? Sometimes we chop and change because we don't really know what we want. Was it a goal that can only be achieved by sticking to a clear path - and are you prepared to stick at it? Or is there flexibility to discover the path as you go and still achieve the goal (compare business entrepreneur to heart surgeon)? Are your expectations realistic, or do minor obstacles come as a nasty surprise that make you question your choice? Do you quit and change direction because you're afraid to fail? Does quitting allow you to get out before you hit that point of failure? And can you redefine failure as learning instead, and use that to help you stick with your choices? LINKS You can learn more about Angela Duckworth and listen to her Ted Talk on 'grit' https://angeladuckworth.com/ (here). WHAT TO DO? If you enjoyed this episode, think about rating & reviewing 'How to Choose' in your favourite podcast player - we'd really appreciate it! And don't forget Kafka's advice: 'Follow your most intense obsessions mercilessly' (as long as your obsessions aren't evil...) IN OUR NEXT EPISODE... Next time we'll be exploring those situations where it might be more effective to adjust your direction as you go rather than choose and never change your mind.

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 1: Intuition in Decision Making Tessa Mudge & Ken Smith INTRO In this episode, we explore the problem of analysis paralysis - where we overthink things and get stuck at the point of decision: and we see how it manifested in one famous Australian politician. We also look at how intuition, when used correctly, can be a great support to our decision making. KEY TAKEAWAYS Intuition = the way we translate our experience into action (Gary Klein) Intuition can help us, when we are leaning on our areas of expertise - and on the expertise of others! Don't let your self-confidence be undermined by confident people who know less than you do If you're building expertise, it might change the way you make decisions in the future - still use a systematic approach when you have time and when you lack expertise, but in pressure situations your experience can inform your intuition and help you to make quick decisions LINKS If you enjoyed this podcast, check out our blog post on intuition - https://goodbetterright.com.au/blinking-or-thinking/ (https://goodbetterright.com.au/blinking-or-thinking/)  To learn more about Gary Klein's work, visit https://www.gary-klein.com/ (https://www.gary-klein.com/) Paul Kelly book 'Triumph and Demise', in which he describes the challenges Kevin Rudd faced, can be found https://www.mup.com.au/books/triumph-and-demise-paperback-softback (here) WHAT TO DO? Talk about these concepts with other people - this is a proven way to reinforce learning Subscribe to How to Choose If you enjoyed this episode, share it on your socials! IN OUR NEXT EPISODE... Next episode we'll talk about those times when it pays to think things through more deeply and some of the pitfalls of relying on your (or others) non-expert intuition!

How to Choose -  SHOW NOTES www.goodbetterright.com.au Season 1, Episode 2: Overestimating our abilities Tessa Mudge & Ken Smith INTRODUCTION In this episode, we look at when it pays to think things through more deeply and some of the pitfalls of relying on your (or others') non-expert intuition. We explore the Dunning-Kruger Effect and other theories about overestimating and underestimating our ability. KEY TAKEAWAYS ➢ Beginners (or the incompetent) tend to overestimate their ability and experts tend to underestimate their abilty ➢ This effect can also be seen in culture and gender, being aware of this can help you better support friends and co-workers ➢ We all fail to accurately assess our own ability at some point ➢ Engage in metacognition, assess your own competence and experience critically and seek expert feedback ➢ A little knowledge is a dangerous thing! LINKS The https://www.sciencedirect.com/science/article/abs/pii/B9780123855220000056 (Dunning-Kruger Effect) is based on multiple peer-reviewed studies, it is also https://www.vox.com/science-and-health/2019/1/31/18200497/dunning-kruger-effect-explained-trump (explained by Vox )and it's all over the internet, including some critiques. The difference between mae and female self evaluation is https://www.abc.net.au/news/2022-03-15/men-more-likely-to-overestimate-their-iq-than-women/100909236 (summarised by the ABC) and ‘Male Hubris and Female Humility?...' is https://www.researchgate.net/publication/223906403_Male_hubris_and_female_humility_A_crosscultural_study_of_ratings_of_self_parental_and_sibling_multiple_intelligence_in_America_Britain_and_Japan (a study )by psychologist Adrian Furnham. We didn't have time to unpack the closely related ideas of https://reader.elsevier.com/reader/sd/pii/S0960982211011912?token=6A0EE90B321BDCF1DE98A5C6C5CE43E4D3A2A5BB52117EAC5FC19C24066E55E66289278BEEACB0B5C2E3F1DA71213A6A&originRegion=us-east-1&originCreation=20220526013227 (optimism bias) and https://blogs.scientificamerican.com/scicurious-brain/the-superiority-illusion-where-everyone-is-above-average/ (superiority illusion), for a good breakdown, explore the links. WHAT TO DO? ● Talk about these concepts with other people - this is a proven way to reinforce learning ● Subscribe to How to Choose ● Drop us a line at contact@goodbetterright.com.au IN OUR NEXT EPISODE... Next episode we'll talk about ‘tree felling' or the reasons why we might want to stick to our big decisions!

Introducing 'How to Choose' - a show that aims to help you make better decisions!