Decision-Making Strategies and Habit Formation

The video discusses subconscious decision-making strategies like risk aversion and the certainty effect, which help us make choices without overthinking. It explains the isolation effect, where we focus on differences rather than similarities when comparing options. The video also introduces the Fabulous app, which aids in forming habits and achieving New Year's resolutions by breaking them into manageable tasks.

What is the main purpose of the Fabulous app mentioned in the video?

• To help build a daily routine

• To provide daily news updates

• To offer cooking recipes

• To teach new languages

What is a subconscious decision-making strategy that involves avoiding risks?

• Certainty effect

• Isolation effect

• Decision fatigue

• Risk aversion

How does the certainty effect influence decision-making?

• By focusing on the most complex options

• By ignoring all possible outcomes

• By favoring outcomes that are guaranteed

• By making uncertain outcomes more appealing

What is the isolation effect in decision-making?

• Choosing the first option presented

• Ignoring commonalities to focus on differences

• Focusing on similarities between options

• Avoiding all decisions

When comparing a cookie to a painting, what new factor might influence your decision?

• The painting's weight

• The cookie's color

• The painting's longevity

• The cookie's nutritional value

Why do people often stick with their decisions?

• Due to peer pressure

• Because they lack options

• Due to a preference for certainty

• Because they enjoy change

What is a common challenge with New Year's resolutions?

• They often lack clear goals

• They require no effort

• They are too easy to achieve

• They are frequently abandoned by March

How does the Fabulous app assist with New Year's resolutions?

• By setting unrealistic goals

• By offering financial advice

• By providing instant results

• By turning resolutions into manageable habits

What is the main benefit of using the Fabulous app according to the video?

• Sustainable habit formation

• Free subscription

• Instant weight loss

• Improved decision-making

Who developed the Fabulous app?

• MIT

• Harvard University

• Stanford University

• Duke University