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Ep38 – Opportunity Cost is Screwing Up Your Life

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Innehåll tillhandahållet av Mentallyunscripted. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Mentallyunscripted eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

What you don’t see is as important as what you do see. Opportunity costs, costs that you don’t see, lurk in every decision. In this episode of Mentally Unscripted, Paul and Scott explain why missing those costs screws up your decision-making.
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Top Takeaways

  • Opportunity cost is the benefit we lose by choosing one option over another. It’s a second-order thinking technique that helps gives our decisions more context so we can make better, more informed decisions.
  • We often fail to fully account for the costs of our choices because some of the costs are implicit, or unseen, costs. When we make decisions without accounting for those unseen costs, we’re making decisions with limited information.
  • We have limited resources. It’s because of this scarcity that every decision we make has tradeoffs. We must somehow reconcile limited resources and unlimited wants.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.mentallyunscripted.com
  continue reading

59 episoder

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iconDela
 

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What now? This series will be checked again in the next day. If you believe it should be working, please verify the publisher's feed link below is valid and includes actual episode links. You can contact support to request the feed be immediately fetched.

Manage episode 303877310 series 2854361
Innehåll tillhandahållet av Mentallyunscripted. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Mentallyunscripted eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

What you don’t see is as important as what you do see. Opportunity costs, costs that you don’t see, lurk in every decision. In this episode of Mentally Unscripted, Paul and Scott explain why missing those costs screws up your decision-making.
Resources

Top Takeaways

  • Opportunity cost is the benefit we lose by choosing one option over another. It’s a second-order thinking technique that helps gives our decisions more context so we can make better, more informed decisions.
  • We often fail to fully account for the costs of our choices because some of the costs are implicit, or unseen, costs. When we make decisions without accounting for those unseen costs, we’re making decisions with limited information.
  • We have limited resources. It’s because of this scarcity that every decision we make has tradeoffs. We must somehow reconcile limited resources and unlimited wants.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.mentallyunscripted.com
  continue reading

59 episoder

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