Thursday, February 18, 2021

It Depends . . .

One-dimensional thinking vs deeper-level thinking (AKA, solve for the equilibrium).

Considering this:One-dimensional thinking concludes:Deeper-level thinking concludes:
To arrive at a destinations sooner one should drive…FasterSlower
A risk-averse investor should consider taking on…Less market riskMore market risk
A successful salesperson…Knows how to get what she wantsKnows how to satisfy peoples’ needs
To increase revenues...Increase pricesLower prices or offer coupons
To reduce the damages of a dangerous vice...Prohibit itNormalize it
To better preserve competitive balance in sports leagues...Restrict player compensationLiberalize player compensation
To reduce the risk of gun violence there should be...More gun restrictionLess gun restriction
To change minds...Speak moreListen more
To increase the income of low-skilled workers...Enforce high minimum wages lawsLower or eliminate minimum wage laws
A satisfied restaurant customer...Cleans his plateLeaves some food uneaten
Basketball teams who shoot poorly (have a low percentage of shots that go in) should...Be highly selective with their shotsShoot the ball a lot more
To help the children who toil in child-labor manufacturing we should...Ban and boycott their productsBuy and enjoy their products

Sometimes the obvious is right, and fast thinking serves us well; sometimes the less obvious is right, and slow thinking serves us better.



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