The Three Secrets of Wise Decision Making by Barry F. Anderson
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Overview: As the world has become more complex and information more abundant, decisions have become more difficult; as the pace of change and the range of choice have increased, decisions have to be made more often. Yet, most of us still make decisions with no more knowledge about decision processes than our ancestors had in a simpler age, hundreds of years ago.
Thanks to mathematicians, economists, psychologists, and decision analysts, we now know a good deal about decision making. We know something about what constitute good decision processes, and we know that good decision processes tend to lead to good outcomes. For example, those who employ good decision processes tend to get higher grades and earn higher salaries (Larrick, Nisbett, & Morgan, 1993); and, when decision makers’ judgments are incorporated into decision models, the models tend to outperform the decision makers, themselves (Dawes, 1979, 1989).
Genre: Non-Fiction > General
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