Charlie Munger—business partner of Warren Buffett at Berkshire Hathaway— outlines why we make terrible decisions in business, investing, and life. Most decisions are derived from your mind (duhhh), so understanding the fallacies we have, and ways others can manipulate you into decisions is key when aiming for rationality.
Psychology Tricks outlined in video above
1. Psychological denial
2. Agency cost
3. Consistency & commitment tendency
4. Pavlonian association
5. Reciprocation tendency
6. Social proof
7. Contrast-caused distortion
8. Over-influence by authority
9. Deprival super-reaction syndrome
10. Envy Jealousy
11. Chemical dependency
12. Misgambling compulsion
13. Liking distortion
14. Other normal limitations of sensation, memory, cognition & knowledge
15. Stress induced mental changes
Few books that cover psychology hacks
1. Thinking, Fast and Slow
2. Influence, The Psychology of Persuasion
3. Made to Stick
4. Unpredictably Irrational