Navigating life’s hard choices-when ranking doesn’t work
Choosing between two options can be simple: compare them, rank them, and pick the best one. But sometimes ranking seems impossible. Then what?
Many of the decisions we made involve some form of exchange: we offer up something (say, money or time), and get something in return (goods, or money). Often this happens in some kind of market, which sets an effective exchange rate (the price of a loaf of bread or a litre of fuel, an annual salary or an hourly wage for a particular position). Even if there is no actual market to inform us, we can often work out an exchange rate that both we and the other party are happy with (imagine a flea market, but also, say, as an amateur artist, creating a mural or composing a song for a friend).
Living in the immaterial world
Things can get more difficult though, especially when one side of the exchange is immaterial. After a system error at your bank locks you out of your account for 48 hours, you may be offered compensation. If, as a result of this issue, you were unable to settle a bill in time and incurred a financial penalty, that is a material loss for which the bank most likely will be obliged to reimburse you. But the inconvenience of having…
