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”