Two Ways of thinking and Making Decisions
Before starting to explain the two ways of thinking and making decisions I would be mentioning a few words of Descartes who claimed: “we think, therefore we exist”
When we have used our rational thinking we can easily distinguish between the two ways of thinking and making decisions.
Two ways of Thinking and Making Decisions
Before starting to explain the two ways of thinking and making decisions I would be mentioning a few words of Descartes who claimed: “we think, therefore we exist” (Descartes). I want to use this quote to support the idea of behavioral economy how it helps humans to use logic to decide as humans are making decisions timely. This can tell us we are different from other creatures in the way that we have rational mind that has great effect on our decision, it is what helped us to develop our lives. We have to think rationally and wisely because each individual makes hundreds of decisions daily which might dramatically affect their lives. When we have used our rational thinking we can easily distinguish between the two ways of thinking and making decisions.
Two ways of thinking which are used by rational creatures to think, decide and judge what they want to think of. The two approaches are called thinking fast and slow. These two systems contribute in human lives to make decisions and make great achievements. Thinking fast required a little effort or in some cases none to make decisions, and it mostly operates automatically and quickly. For example, you can use thinking fast to realize that one object is more distant than another based on the experience you have. So, based on these ideas we can explain thinking fast contributed by practice and skills that we gain daily. As much as we practice on something it needs less effort to decide on. For instance when you add to simple numbers like 2+2. If you have practiced even one time and know the answer, you need a little effort whenever you are asked about it, and you will automatically say it is equal to 4.
The second type of thinking is thinking slow, and it is quite different with thinking fast. Thinking slow is effortful, and it requires longer time to make decisions. Different from thinking fast it requires more energy and time, it also needs allocation of attention. The highly different operations of thinking slow have one feature in common in which they require attention and are disrupted when attention is drawn away. For example, when you calculate two small number such as 3+3, it does not need to allocate attention, you can immediately throw the answer; however when it comes to larger numbers such as 17*22, the case become difficult. You might be able to say a number, but you would not immediately answering the equation. You have to pay attention to answer it, and even sometimes you are for a walk when you asked these kinds of questions, so you have to stop to think and give the best answer to it.
The problem is not from Thinking Slow, but it arises when we think fast and make decisions based on the first way of thinking, thinking fast.. When we use this type of thinking we might trap because of our unthoughtful decisions. People's decision-making gets mired in the first way of thinking when they really should be taking a few seconds to study the problem at hand. Also, you may ask why? Or you may say weren’t I answer the question right when I said 3+3=6. Yes! You were right, but the problem is not such an easy question. It begins when it comes to harder questions. Furthermore, the problem is not when you have right decision or answer, but it is when you make the wrong decisions. Lastly, I would say that it is right that some decisions can be made quickly without thinking of them; however, it is not the best options we have. Before making great mistakes we have to think twice and reconsider our decisions so that we can get the best result we have anticipated.