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The 72-Hour Rule is a decision-making framework used by successful leaders, executives, and entrepreneurs. It states that any major decision whether personal or professional should be given a minimum three-day cooling period before final execution.
What are the common decision making biases? Common decision-making biases are overconfidence bias, anchoring bias, hindsight bias, confirmation bias, and availability bias.
Decision making time is an important issue for the successful outcome of the decisions. Timing of the decision is important since it allows decision maker to visualize various elements needed for the decision and helps the decision making more coordinated with critical key points considered while making the decision.
In their paper Judgment Under Uncertainty: Heuristics and Biases2, Daniel Kahneman and Amos Tversky identified three different kinds of heuristics: availability, representativeness, as well as anchoring and adjustment.
Making a judgment involves perceiving objects or events and coming to a conclusion about whether they are good or bad (valence judgments) or likely to occur (likelihood judg- ments). A decision is a commitment (to oneself or publically) to an option or course of action selected from among a set of options.
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The Period of Decision (Ages 14-17) Through interpreting the world with a creative process, adolescents begin to approach their work as a mature artist would. The subjects of artwork at this stage vary depending on the interest of the artist and may range from extremely realistic to abstract.
The duration of decision making may range from a month to four years, but usually takes about 12 months. Most processes run into disruptions and interruptions, which lengthen the time taken. Measuring decision making is difficult since it is virtually impossible to define the beginning and end of the process.

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