Expected Value Calculations Can Guide Decisions
In most aspects of the world, we are trying to improve our expected value (E.V) of love, happiness, money, time, and etcetera. Companies operate on this principle. They always try to increase expected value of their business, customers, or employees. Yet, we don’t frame our personal lives or careers as maximization of E.V. I recently have reframed my decision making to include a sort of E.V analysis, and it’s a helpful heuristic....