Hyperbolic Discounting and 7 Ways to Prevent Self-Sabotage
RapidStart Leadership Podcast
English - September 03, 2021 17:00 - 8 minutes - 5.64 MBManagement Business Education Self-Improvement leadership management teambuilding teamwork personal development problem solving inspiring communicating new leader supervisor Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Hyperbolic discounting may sound like a super-charged holiday sales technique, but in reality, it’s a phenomenon that leaves us vulnerable to making poor impulse choices and sabotaging our goals. Here’s what it is, and seven ways to turn this dangerous penchant into a tool to help us make smart decisions.
Notes and Resources:
Prefer to read? Here’s the full post: Hyperbolic Discounting and 7 Ways to Prevent Self-SabotageFor more of the fascinating research behind this concept see The Economics of Immediate Gratification by Ted O’Donoghue and Matthew RabinHere’s reference to the 2016 study that demonstrated the “Priming” was an effective way to reduce cognitive bias.Here’s the link to my Goal-Setting Mastery Course that will help you not only set good goals, but stay on track long enough to attain them. The first several videos are free.Quotable:
“Naughty goods are sold in small packages.” - Marketing dictum
“We are tempted to over-value options that that put things in our hands in the near-term, even though we know we’ll end up paying a greater cost down the road.” - Ken Downer
“Since we know that our future selves are smarter about these kinds of things, we can imagine the person we want to be five years from now, and get their thoughts on what choice to make today.” - Ken Downer
Related posts:
Type 2 Fun: The Secret to Achieving Your Goals
Bridging the Gap to Your Goals: Building a Span That Lasts
Master the Habit Cycle and Achieve Your Goals– features a short video on how to make smart choices happen automatically.
Stay connected with Rapidstart Leadership
Visit the site at https://www.rapidstartleadership.com/ Tweet us at @RapidStartLdr Follow us on Facebook https://www.facebook.com/rapidstartleadership Subscribe to the Leadership Updates Newsletter Email us at [email protected]Thanks for listening, and Lead On!