This checklist is designed to help you reflect on various psychological tendencies identified by Charlie Munger, aiming to improve decision-making by avoiding common human errors. For each tendency, ask yourself the relevant questions and check the box if you identify the tendency as potentially influencing your decision. Below each checkbox, there's space for you to reflect on how each tendency might be affecting your decision-making process.
- Am I being influenced by immediate rewards or punishments, rather than considering long-term consequences?
- Reflection:
- Is my decision biased by my affections (liking/loving) towards people, things, or ideas involved?
- Reflection:
- Am I negatively biased in my decision due to disliking/hating aspects related to it?
- Reflection:
- Am I rushing into a decision just to avoid the discomfort of uncertainty?
- Reflection:
- Am I sticking to my initial beliefs or strategies too rigidly in the face of new information?
- Reflection:
- Am I overly influenced by what others are doing, assuming it must be correct?
- Reflection:
- Is the fear of losing something causing me to make irrational decisions?
- Reflection:
- Am I being overly optimistic about my plans or capabilities in this decision?
- Reflection:
- Am I overvaluing information that is readily available to me and undervaluing what's not as easily accessible?
- Reflection:
- Am I overvaluing the opinion of an authority figure or underestimating my own judgment?
- Reflection:
- Am I focusing too much on irrelevant information or details, distracting from the important aspects of the decision?
- Reflection:
- Am I more inclined to follow through with a decision because a reason has been provided, without critically evaluating the validity of that reason?
- Reflection:
- Are multiple tendencies acting together, pushing me towards an extreme outcome?
- Reflection:
Reflect on each of these tendencies carefully and honestly. Acknowledging these influences can help you make more rational and well-considered decisions.