Tuesday, September 2, 2008

How Can Decision Making Be Improved?

I recently published the second edition of my book "The Practice and Philosophy of Decision Making". Some of what I say in my book is based on a Negotiating Skills class I took from Prof. Max Bazerman when I was at Kellogg. So as I worked on the second edition, I was curious what he was up to and I found his HBR paper about decision making skills. In my book I talk about creating a personal framework to understand emotional biases - some a result of stone age "fight or flight" instincts that are inappropriate in today's society. The paper also talks about "how to reduce biased decision-making." From the summary page - key concepts include:
-People put great trust in their intuition. The past 50 years of decision-making research challenges that trust.
-A key task for psychologists is to identify how and in what decision-making situations people should try to move from intuitive, emotional thinking to more deliberative, logical thinking.
-The more that researchers understand the potentially harmful effects of some biased decision-making, the more important it is to have empirically tested strategies for reaching better decisions.


Chuck House said...

Neerja, this little book is profound. It merits wide circulation for its wisdom and its humane perspective about life, especially via introspection. While it is about decision-making, yes, it doesn't come directly at that question, which is a great deal of the charm in the writing.
Thank you for the chance to read it

Chuck House said...

Neerja, what a wise and profound book. It merits wide readership for its soft humane introspective presentation of the decision-making process and apparent dilemma on occasion. Thank you for the copy -- it was a pleasure and then some to read it