Long-Term Thinking: Kathopanishad’s Teachings on Beating Cognitive Biases

The following verse from the Kathopanishad teaches us about the choices humans make, distinguishing between 'Shreyas' (the good, beneficial choice) and 'Preyas' (the pleasant, immediate choice). It states:

श्रेयश्च प्रेयश्च मनुष्यमेतस्तौ संपरीत्य विविनक्ति धीरः। श्रेयो हि धीरोऽभि प्रेयसो वृणीते। प्रेयो मन्दो योगक्षेमाद् वृणीते॥

Meaning

Both Shreyas and Preyas approach humans. The wise person, having considered them, distinguishes between the two. The wise person chooses Shreyas over Preyas, while the ignorant person, driven by immediate gratification, chooses Preyas for their own comfort and security.

Cognitive Bias: Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. They occur because our brains are wired to make quick decisions, often using mental shortcuts that can lead to errors in thinking.

Cognitive biases, such as present biases, can be seen as modern manifestations of the same dilemma highlighted in this ancient teaching. These biases are mental shortcuts that help us make quick decisions but don't always work out for the best.

Present Bias: Present bias is a type of cognitive bias where individuals tend to give stronger weight to payoffs that are closer to the present time over those that are in the future. Our brains are wired to choose immediate sure-things rather than the potential of a far-off future reward. This bias leads people to favor immediate rewards over long-term benefits, much like choosing 'Preyas' over 'Shreyas'.

Examples of Present Bias:

1. Financial Decisions: Opting to spend money on a luxury item now rather than saving for future security.
2. Health Choices: Choosing to eat junk food for immediate pleasure rather than maintaining a healthy diet for long-term well-being.
3. Procrastination: Delaying important tasks for immediate leisure activities, which might lead to stress and poor outcomes later.

Our brains were never wired to be truly rational because there is way too much information in the world for us to process. We evolved instead to make decisions quickly. These biases are inherent in humans and require conscious effort to override. The wisdom from the Kathopanishad emphasizes the importance of thoughtful decision-making. Just as the wise choose 'Shreyas' after careful consideration, overcoming cognitive biases requires awareness and deliberate effort.

Effort to Override Biases:

1. Mindfulness: Being aware of your tendencies and actively questioning your decisions.
2. Long-term Planning: Setting clear goals and reminding yourself of the long-term benefits.
3. Delayed Gratification: Practicing self-control by delaying immediate rewards for more significant future gains.

The teachings of the Kathopanishad guide us to recognize the allure of immediate gratification and strive for decisions that lead to true and lasting benefits, much like overcoming cognitive biases to make wiser, long-term choices.

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