“Had we but world enough and time…” - How Time Effects Decisionmaking

With enough time, anything would be possible. We could solve every problem. No deadline would be impossible to meet. No obligation would get neglected.The reality is that time is often at a premium. This is particularly true at certain times: when a deadline is looming, when you return to the office after time away, when your workload increases unexpectedly, etc. Everyone struggles to varying degrees when time is scarce. What most people don't know is that the scarcity of time actually affects how our brain performs.In an influential Science Magazine article about scarcity, authors Anuj Shah, Sendhil Mullainthan, and Eldar Shafir note that "the busy (facing time scarcity) respond to deadlines with greater focus on the task at hand. Across many contexts, we see a similar psychology. People focus on problems where scarcity is most salient." As a result, busy persons tend to "borrow" time by requesting extensions to assuage the effects of time scarcity. Unfortunately, this frequently leads busy person to "neglect important tasks that seem less pressing." In psychological terms, "cognitive load arises because people are more engaged with problems where scarcity is salient. This consumes attentional resources and leaves less for elsewhere." Which has the perverse effect of causing persons "to use their resources less efficiently or make riskier … decisions." Thus, exceedingly busy persons are prone to triage their workload inefficiently, yielding a mixed bag of results in which some tasks are completed with focus and attention while others slide into neglect and often have to be completed frenetically at the last minute (if they are completed on time at all).So what is the solution to scarcity of time? One key is to better manage our mental bandwidth. The idea being that we only have so much brainpower and pressing matters can take over all of our mental attention. We can "put in place systems that minimize the temptations and costs that can come with [reduced mental bandwidth]." This is why, "setting long deadlines … is 'a recipe for trouble" and setting "shorter deadlines or a series of deadlines can make the best use of the brain's inherent deficiencies." Strategies that limit the amount of mental attention being devoted to a single task will have the effect of allowing for mental attention to be devoted to numerous smaller tasks, reducing the risk that important tasks will be neglected.Your IME vendor should help you increase your mental bandwidth by taking over the job of keeping you informed, responding to your questions promptly, and meeting your IME deadlines. While no one has enough time, at Medical Systems we help you get some back.

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