Blink: The Power of Thinking Without Thinking By Malcolm Gladwell Book Summary Readtrepreneur
(Disclaimer: This is NOT the original book, but an unofficial summary.)
Have you experienced those moments when you just know something, but can never seem to explain how you came to know it? Malcolm Gladwell explores our behavior of making decisions in the blink of an eye and it is not as simple as following your gut feeling. Blink reveals to us why "thin-slicing", as compared to having a lot of information about a subject may be the most effective method in making good judgements.
(Note: This summary is wholly written and published by Readtrepreneur It is not affiliated with the original author in any way)
"Truly successful decision-making relies on a balance between deliberate and instinctive thinking." - Malcolm Gladwell
We will look at some of the great failures and successes that resulted when using instinctive thinking and understand why some people are excellent decision-makers, while some are terrible at it. With Blink, we will understand the factors that matter which will help us make the best possible decisions and make good snap judgements.
P.S. Truly riveting and thought-provoking, we will be one step closer to understanding our complex brains and the decision-making process
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Chapter 1. Optimal Stopping – When to Stop Looking
One thing that makes life difficult is not knowing when to stop – this has been labeled as the Optimal Stopping Problem. There is a danger of quitting too early and missing out on something good, or quitting too late and exhausting the little energy and time that we have.
Thankfully, there is an algorithm that will make decisions much easier. It’s not entirely foolproof, but it will produce better outcomes than doing things randomly.
The Optimal Stopping Problem deals not with what option to select but how many choices to consider. Based on statistical data, the ideal percentage is 37%.
The Secretary Problem explores the idea of Optimal Stopping. Someone tasked to hire a secretary has to choose among applicants, but he must know when to stop so that he will not miss someone who is good for the job.
In looking for the secretary, stopping late means prolonging the choice unnecessarily, while stopping too early lets the best applicant go unhired. The strategy is to find a reasonable balance between the two conditions.
