Tag Archives: Ponzi

Decision-Making: Balancing Two Competing Approaches

Two admissions…

I have to start by making two admittedly underwhelming admissions…

The first is that my fascination with the decision-making process has been driven by my interest in scams. Clearly, scammers have always known something about how we make decisions. I’ve always wanted to know what the scammers knew…

My second admission is that I’ve personally found the decision-making process sometimes a little puzzling—and, occasionally, even a tad bizarre. And it hasn’t mattered if I was making a sophisticated business or legal decision; or if I was just trying to decide what brand of detergent to buy; or whether or not I should wear a tie, or socks or underwear…  🙂

What I’ve noticed is this:

At each end of the decision-making spectrum are two quite different approaches—or two extremes. And each gives rise to a particular conundrum. Obviously, there are many approaches between the two extremes, but I thought I’d begin by focussing on the extremes…

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