Chapter
How to Make Decisions When Faced With Many Options
36:12 - 40:49 (04:37)
Making decisions based on pure rationality can be challenging, especially when faced with a large group of options. To find the best candidate out of a group of 108 people, the speaker suggests assessing the first 37 individuals, then choosing the first person who is better than the best of the first 37.
Clips
This podcast episode covers the topic of decision making and how it's not easily done with a rational framework.
36:12 - 38:01 (01:49)
Summary
This podcast episode covers the topic of decision making and how it's not easily done with a rational framework. It provides tips on how to organize your thinking to make a decision effectively.
ChapterHow to Make Decisions When Faced With Many Options
Episode#613: Russ Roberts on Lessons from F.A. Hayek and Nassim Taleb, Decision-Making Insights from Charles Darwin, The Dangers of Scientism, Wild Problems in Life and the Decisions That Define Us, Learnings from the Talmud, The Role of Prayer, and The Journey to Transcendence
PodcastThe Tim Ferriss Show
The strategy to find the best partner out of 108 options would be to interview the first 37 and then pick the first candidate who is better than the best from the first group, but this is not the optimal approach as it risks settling for someone who may not be the most compatible.
38:01 - 40:49 (02:48)
Summary
The strategy to find the best partner out of 108 options would be to interview the first 37 and then pick the first candidate who is better than the best from the first group, but this is not the optimal approach as it risks settling for someone who may not be the most compatible.