Under Budget and Over Time: The Planning Fallacy is Why You’re Always Behind Schedule
You are a busy college student who has a lot to do after a long day of classes. So you decide to try to organize your life and make a detailed schedule for your evening. You set aside an hour to get that workout in, and then another generous hour for dinner with your friends. Then to the library, you give yourself 45 minutes to read a history article and an hour to finish your lab report, followed
Evening Schedule
by an hour and a half for that chapter of chemistry notes. If all goes as planned, you’ll be back in your room snuggled up with Netflix by 11pm. The problem is, halfway through that chemistry chapter, you glance at your phone and it reads 11:43pm. What happened? You planned out everything you had to do and thought you had given yourself enough time to do it. Unfortunately, you have fallen victim to the planning fallacy. Read more…
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