I don’t have to tell you that making good decisions is important both in business and your personal life. What you may not know is that we have a scientific field developing decision-making methods based on mathematics with the singular goal of helping you make better decision.
But why on Earth should you bother with complicated mathematical formulas instead of relying on our gut instincts? True, gut instincts are useful. If you simply need to buy something to eat, pulling out Excel to determine the optimal decision is an overkill. And even worse, if you find yourself in a fight, you simple don’t have the time for a detailed analysis.
But our intuitions and reflexes are not silver bullets. They can make mistakes, especially when solving problems our ancestors from 10 thousand years ago didn’t have to deal with. In such situations, formal decision-making methods based on some interesting mathematics can help you make better choices. Here are six reasons why.
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