This episode is about present versus future biases. This is part 4 of our 8 part series about biases. We’ve already talked about personal biases, how we think about ourselves versus other people, and memories. When it comes to present versus future, people want their payoffs now, so humans tend to place a greater weight on the outcome that is closer to now. Other things that impact our decisions include losses and risks. We are impacted more by losses than gains. We are also biased towards maintaining the status quo.
I talk about optimism bias and even pessimism bias. When you know the rules of the game, it can be easier than you think to trick your brain into doing more in your favor – whether it is making choices today that you will appreciate tomorrow, or helping to get yourself out of a negative spiral. This episode will help you understand why we tend to make decisions a certain way and enable you to make better decisions for your business and your life.
