Pain of regret.
The consequences of postponing decision-making in an interview with Farshad Fatmi.
Sogul Danai/ the author of the publication.
Our brains are not evolutionarily trained to analyze dangerous situations as well as certain situations. For the first reason, making decisions under uncertain conditions increases the cost of making decisions for the individual. The second point is that we humans are generally risk averse in the face of uncertainty. Of course, some people take more risks than others in certain situations. Especially when we don't know the amount of possible loss and we don't know how much we will lose if we make a decision, we tend to be risk averse.
Every decision has benefits and costs. What is different are the opportunities that have been lost in life and may never be found again. Here we are faced with a concept called regret. That is, people regret the things they could have achieved and did not achieve. For example, consider having a baby. As parents age and delay the decision to have children, they are likely to have fewer opportunities to have children. Even if they have children, they will be less likely to enjoy their child when he grows up.
For example, you ask yourself whether I should sell gold and buy a house today or not? A financial analyst might tell you that gold prices will grow faster than house prices in the next six months. So it's better to wait a bit. Now, that person's analysis may not have come out right and the price of the house may be higher than gold. But anyway, this is a cost-benefit analysis. But in situations where opportunities are lost, one of the things that helps a lot is asking others for advice.
The job of policy making is to be able to provide a more peaceful and enjoyable life for people by controlling economic storms and controlling the uncertainties ahead so that they can make decisions under more stable conditions and with greater certainty. Of course, in today's situation we can say that all these events are not our fault. Finally, war may be imposed on the country and the country will be attacked.