Decision Tree
How to Use the Eisenhower Decision Matrix to Prioritize Tasks
Prioritizing tasks and allocating the required time for each task requires timely decision making that is free of analysis paralysis and procrastination. Both the aforementioned are often a result of the inability of individuals to prioritize tasks based on their urgency and importance. However, such prioritization is easier than most people think, especially if you use the Eisenhower Decision Matrix.
Overcoming Sunk Cost Fallacy: Get Better at Decision-Making
One of the first things you learn at an economics course is that you should never take irrecoverable (sunk) costs into account when you need to decide upon present or future investments. But since humans are not the most rational beings, we often forget that basic rule and let the past “investment” distort our judgments. This cognitive tendency is known as “sunk cost fallacy” and it can massively undermine both your personal and business decision-making.