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Myth of rationality: Does regret impair your decision making ability?
To evade a sense of regret - that your strategic planning exercise was a waste of time, consider approaching problems with both a blend of using analogy and first principles thinking.
“I knew that if I failed I wouldn't regret that, but I knew the one thing I might regret is not trying,” - Amazon founder, Jeff Bezos.
We assume people make unemotional rational decisions. Theory of Games and Economic Behaviour written by John von Neuman and Oskar Morgenstein, published in 1947 is the classic on the rules of rationality.
