What can we do about it?
As Annie Duke (decision scientist and author of How to decide) explains, one of the biggest problems that we have as decision-makers is this battle in our heads between the present version of us and the future version of us. We know (but often forget) that what’s good for our future self doesn't always feel good for our present self.
The trick when dealing with intertemporal choices, where your goal is actually to have the best outcomes in the long run, is to favor your future self over your present self.
Decision tools that use negative thinking in the planning process generate about 30% more content on possible obstacles that might stand in the path of success. The more of that future landscape that you can identify, the better you are going to be able to navigate it, be able to prepare for it, avoid those obstacles or react to those obstacles more rationally when they happen to appear. All these increase the chances that you succeed.
Perhaps the most popular of these tools is the Pre-mortem technique. Invented by Gary Klein and celebrated by Nobel laureates like Daniel Kahneman, it comes down to this central question: “Imagine it’s a year later. Why was the decision a success? Why was the decision a total disaster?”
The Premortem technique helps overcome blind spots, bridge short-term and long-term thinking, tame excessive optimism and challenges the illusion of consensus. You can find the full method here.
Another useful framework, developed by Prof Oettingen is the WOOP framework: Wish, Outcome, Obstacle, Plan. It leverages the power of both positive and negative thinking at different parts of the process. It’s also recommended as a framework to use when setting S.M.A.R.T. goals.