Make Better Decisions With This One Question

You're in a room with three doors. Behind each door, there is a prize to be won and are different for each. But, you can only pick one door and not see what is behind other doors. When facing two options, ask yourself

How Much Could You Lose?

When you choose one option over others, you lose the opportunity presented by other options. In other words, choosing one option over others is an opportunity cost.

Another perspective is the loss you take to make a gain or the letting go of the estimated future value of one choice in favour of the value of the choice you made.

Opportunity costs not only refer to financial rewards. Opportunity cost can also include your time, your reputation or your happiness.

You were offered a role in two different companies. Or you were offered a place in a few prestigious universities. Or perhaps you receive more than one marriage proposal from many lovers.

Every decision you make comes with opportunity cost. Next time you make a decision, ask yourself

How Much Could You Lose?

Inspired by Annie Duke's How to Β Decide: Simple Tools for Making Better Choices