Psychologists, neuroscientists, economists and Buddhism scholars are shedding new light on how we make decisions:
We make the best choices when we acknowledge our emotions.
In Western civilization, we’re taught that the best decisions are based on logic and reason. Businesses favour data analysis — hard numbers — over any subjective input coloured by emotions.
Most decisions, however, are heavily influenced by emotions, often without our awareness. The brain is prone to making errors and succumbing to biases, no matter how much data we may have.
“Our decision-making capacities are not simply ‘wired in’, following some evolutionary design. Choosing wisely is a learned skill, which, like any other skill, can be improved with experience.
– Reid Hastie and Robyn M. Dawes,Rational Choice in an Uncertain World: The Psychology of Judgment and Decision Making (SAGE Publications, 2009)
It doesn’t matter if we’re determining major corporate strategies or considering minor purchases. Without emotional influences, we’d be incapable of making any decisions.
Self-Awareness, Emotions & Moods
The first element to check before making a decision is your feelings. Avoid repressing your emotions, no matter how “right” or “wrong” they appear to be. Instead, become more aware of them—and learn to manage them so you can make smarter choices.
Studies of stock traders reveal that their level of success depends on two factors: self-awareness and the ability to identify emotional biases. Sentient traders make better investments. Studies of other professionals support this finding.
Even if you’re unaware of your underlying emotions, your decisions reflect their inherent influence. Increasing your emotional awareness helps you achieve greater balance and form more reasoned decisions.
In the work I do with clients, we explore feelings and how they interplay with the many decisions we have to make each day. What situations have your been in where your emotions influenced your choices? I would love to hear your thoughts and experience with decision making and the influence of feelings or moods.
