Decision Theory is a complex branch of maths, also known as rational choice theory: 'the mathematical study of strategies for optimal decision-making between options involving different risks or expectations of gain or loss depending on the outcome'. It concerns the study of preferences, uncertainties, and other issues related to making "optimal" or "rational" choices. It has been discussed by economists, psychologists, philosophers, mathematicians, statisticians, and computer scientists.
However, it can be related to everyday decisions in your life. Take for example shopping. You're in the super-market with the intention of buying food to cook a meal for you and your partner. One look around the shelves and you will soon realise that you have thousands of decisions and options in front of you. Do you want to cook fish, chicken or beef? What sauce do you want to go with it? Seasoning? Additions of side dishes? What the hell do I do with an Oxo cube? Starter or no starter? Where the horse meat at? Will I bother with dessert? Will I just secretly go drive-thru on my own and pretend later that I'm not that hungry? Decisions a plenty!
However, it can be related to everyday decisions in your life. Take for example shopping. You're in the super-market with the intention of buying food to cook a meal for you and your partner. One look around the shelves and you will soon realise that you have thousands of decisions and options in front of you. Do you want to cook fish, chicken or beef? What sauce do you want to go with it? Seasoning? Additions of side dishes? What the hell do I do with an Oxo cube? Starter or no starter? Where the horse meat at? Will I bother with dessert? Will I just secretly go drive-thru on my own and pretend later that I'm not that hungry? Decisions a plenty!
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| ''Where's the sign for the Big Mac'' |
To make it simple you can apply the principles of decision theory. The trick is to put your decisions in the right order. If you take big decisions first, you eliminate a lot of smaller decisions immediately, hence speeding up the decision making process. So if you chose to buy beef, you immediately eliminate a lot of sauces and sides that would alternatively have gone with a chicken or fish meal.
So whether you go all out and cook the meal of your life, or just end up in front of the TV eating bread straight from the bag - remember, choose the big decision first and then the rest of your plan gets set in motion.
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''I must have a prodigious amount of mind; it takes me as much as a week, sometimes, to make it up!'' ~ Mark Twain
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