A New Look at Prospect Theory

9:22pm

Saint Paul

 

Hey there. I was just thinking — PRL readers are the best.

This past weekend I emailed about Mindset and letting Reality flow—

“Don’t force a round peg into a square hole” kinda thing (actually it was exactly that).

Anyway, one Mr. Haris P. wrote back to agree:

Mindset is everything, you are right. When I get stressed I stop and think of the Prospect Theory that has been fascinating me since I first read it some years ago.  To make a long story short, we always judge situations comparing to something else (point of reference).


When I am stressful at work for example, I stop and think how is my life, what are the real things I value (family, friends and health basically). Suddenly all other issues seem unimportant and trivial. Everything has a solution (apart form health problems) so I should just carry on, find the strength and courage to face my hesitations and fears.


In a few words, I change the mindset and everything seems crystal clear.

Second off, I agree completely with Haris.

Perspective, framing, and contrast all help us to see the situation and get a handle on our emotions and mindset.

But backing up to First off… my immediate reaction was whoa. I hadn’t thought of Prospect Theory quite like that before. Continue reading “A New Look at Prospect Theory”

Persuasion Articles of the Week

Photo "IMG_2810_1" by Allie, Flickr, CC-By-2.0
Photo “IMG_2810_1” by Allie, Flickr, CC-By-2.0

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