#2 Mental 'Edge' in Trading, with Mark Randall and Steven Goldstein
The AlphaMind Podcast
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The Quality of Decision Making Over the Day
Research on parole decisions over a 10-month period showed that decision-making quality varied throughout the day. In the early morning, there was a 70% chance of receiving parole, which significantly dropped in the late afternoon to about 20%. Decision quality started high in the morning, dropped during the morning, rose after a break, dropped again post-lunch, and briefly improved to 60-70% before declining to 20% in the afternoon. The study highlighted that decision-making tends to be better at the beginning of the day due to ego depletion.
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Transcript
