Introduction In the realm of decision-making, understanding the complexities of human behavior is crucial. One mental model that sheds light on these complexities is the Exit Voice and Loyalty Model. Coined by economist Albert O. Hirschman in 1970, this model explores how individuals and groups respond to unsatisfactory situations by either exiting the situation altogether, […]
Introduction In today’s interconnected world, the power of collective wisdom has gained significant recognition. Crowdsourcing, a powerful mental model, harnesses the collective knowledge and opinions of a diverse group to inform decision-making processes. This concept has permeated various aspects of our lives, from personal choices to business strategies and even public policy-making. Understanding the psychological […]
Introduction In today’s fast-paced and interconnected world, decision-making plays a crucial role in both our personal and professional lives. The ability to make sound choices is essential for achieving our goals and navigating the complex array of options that surround us. However, our decisions are often influenced by various mental biases that can lead us […]
Introduction In the realm of decision-making, a phenomenon known as Founder’s Syndrome holds significant influence. Founder’s Syndrome refers to the psychological and behavioral patterns that can arise when the founder or key individuals in an organization, relationship, or even personal life become entrenched in their ideas and resist change or differing perspectives. This mental model, […]
Introduction In our daily lives, we constantly make decisions based on the perceived availability and desirability of goods, services, and resources. The mental model of Demand and Supply plays a crucial role in shaping these decisions. Originating from the field of economics, Demand and Supply is a fundamental concept that explains the relationship between the […]
Introduction In the complex landscape of decision-making, our minds often resort to mental shortcuts and biases that can lead us astray. One such mental model that profoundly influences our choices is the Controlling Centre. Derived from human psychology, this mental model refers to our tendency to believe that we have complete control over the outcomes […]