Friday, March 12, 2010

How to derive satisfaction from a choice?

O God! I am writing after ages and it feels really good. I don't know where I was. Though, let us evolve a mathematical formula for satisfaction. We all have infinite choices to make and to reach to a decision we have a infinite options to select from. You all must have gone to buy a mobile phone and you have a plenty of options, rather infinite of them and after you have bought one which fulfills the functions you wanted and looks fine but you still fancy the ones you left. ' O boy that one had all the features and so low a price but it weighed a bit more.' Isn't it? May be this reveals the magic of market place which is driven by incentives. But how to justify yourself that the option you have chosen stands validated among the infinite options you have rejected?

That is where the formula shown below is useful:-

Satisfaction from a choice (xi) = Pros of choice(xi) - Cons of choice(xi) - Pros of all the rejected choices (∑x=1 to ∞xi) excluding xi.

That is why all of us are unhappy even after making some of the best decisions in our life. Because we carry only the pros of the rejected choices and not the cons but we subtract the cons of the selected choice. Rather we should try to remove the
∑ (sigma) out of the whole equation. This sigma in economics is called opportunity cost of the rejected choice. This removal of opportunity cost will make the choice worth more and increase the satisfaction levels for the decisions for which we are responsible. But physically what is this sigma?

Actually, it is the emotional value of the rejected choices. When women go out to buy saris, after coming to their places, they still fancy the one they left at the shop. And a kid fancies the rejected toy that he would buy the next time. The bride fancies the other possible groom. A graduate fancies the placement he left for something else. We all feel hollowness after leaving something because it is the tendency of human beings to emotionally stick to the things we have rejected and thus, justifying the ∑ in our equation.

Hence, the actual equation representing a rational and emotionless decision is:

Satisfaction from a choice (xi) = Pros of choice(xi) - Cons of choice(xi)

1 comment:

  1. nice post dude...

    all i hope for is that ...u stand by the choices that u make and hope that they are the best ones u cud hv made

    ReplyDelete