How We Got Here: 18 Cognitive Biases Causing Issues in Decision Making
•
0 likes•131 views
The document discusses how humans are poor decision makers due to numerous cognitive biases that cause irrational behavior. It explains that real-world decision making often involves hastily choosing the first option without proper analysis or review, unlike the ideal process of considering alternatives and revisiting choices. Some recommendations are provided on improving decision making through understanding cognitive biases, engaging imagination, probabilistic reasoning, assigning credibility scores to information sources, and promoting diversity.
Recommended
More Related Content
What's hot
What's hot (20)
Similar to How We Got Here: 18 Cognitive Biases Causing Issues in Decision Making
Similar to How We Got Here: 18 Cognitive Biases Causing Issues in Decision Making (20)
More from Gar Mac Críosta
More from Gar Mac Críosta (19)
Recently uploaded
Recently uploaded (20)
How We Got Here: 18 Cognitive Biases Causing Issues in Decision Making
- 1. How we got here today!
- 3. “We're blind to our blindness.We have very little idea of how little we know.We're not designed to know how little we know” Daniel Kahneman Author:Thinking Fast & Slow
- 4. Just how bad are we at making decisions?
- 5. encounter a choice analyze options choose a path revisit if it doesn’t workout Ideal-world decision process
- 6. Real-world decision process encounter a choice pick the first or most convenient option choose that option no criteria, no timely re-evaluation we get emotionally a attached to the option
- 8. How biased are you?
- 9. 18 Cognitive Biases Causing Havoc in Business
- 12. We are just a big bag of chemicals serotonin dopamine norepinephrine anandamide oxytocin endorphins testosterone
- 13. What’s happening inside our heads?
- 16. V - Volatile U - Uncertain C - Complex A - Ambiguous
- 18. OK… we’re that bad! What can you do about it?
- 19. Decision making basics From “A Decision Architecture White Paper”, Dr. David G Ullman, 2016
- 20. Decision making basics From “A Decision Architecture White Paper”, Dr. David G Ullman, 2016 1. Organisation’s Attitude 2. Stakeholders & Ownership 3. Objectives & Criteria Clear 4. Alternative Space 5. Information & Analysis 6. Appropriate Decision Process 7. Risk Consideration 8. Clear when decision is made 9. Record, Review & Reuse 10.Decision Buy-in
- 22. Imagination is a must!!! no imagination == no options
- 23. Engage in probabilistic reasoning & understand risk tolerance % probability of penalty % probability of expected value
- 24. Factor in believability, assign credibility scores But don’t forget about bias 96% 50% 20% Dunning Kruger Semmelweiss Effect Silent Disagreement
- 25. Antidote to Antagonistic Nets
- 26. …Looking To The Future
- 28. AI-powered Boards? • Information & Risk Analysis • Stakeholder Engagement • Bias Alerts • Optimal environments Checks • Reviewing & Recording • Communicating
- 29. Ambient Intelligence & the Answer Cloud
- 30. Flow-hacking
- 31. Smart, Quantified & Connected
- 32. Micro-dosing
- 33. Diversity is key to good decision making
- 34. Good luck! The future is murky & unclear!!!
- 36. Wiki - https://en.wikipedia.org/wiki/List_of_cognitive_biases CogLode - http://coglode.com/ Thinking Fast & Slow –Daniel Kahneman https://www.amazon.com/Thinking-Fast-Slow-Daniel- Kahneman/dp/0374533555 Hooked - Nir Eyal - https://read.amazon.com/kp/embed?asin=B00NW01MKM&preview=newtab&linkCode=kpe&ref_ =cm_sw_r_kb_dp_kSj-AbG3WSKA5 Satir - https://en.wikipedia.org/wiki/Virginia_Satir Your Brain at Work – David Rock - https://www.amazon.com/Your-Brain-Work-Strategies- Distraction/dp/0061771295 Danny Kahneman & Sam Harris - https://www.youtube.com/watch?v=iKLE3TmtFhY
- 37. Jeff Bezos Shareholders Letter - https://www.scribd.com/book/344982413/Amazon-2016-Letter-to- Shareholders Decisive – Chip & Dan Heath - https://www.scribd.com/book/344982413/Amazon-2016-Letter-to- Shareholders Delegation Boards & Delegation Cards - https://management30.com/practice/delegation-board/ HBR - https://hbr.org/2010/06/the-decision-driven-organization Choice Architecture - https://www.sas.upenn.edu/~baron/475/choice.architecture.pdf WRAP Process - http://heathbrothers.com/ot/wp- content/uploads/2013/03/The_WRAP_Process_one_pager.pdf Decision Making White Paper – Dr. David G Ullman - https://eapj.org/wp- content/uploads/2017/06/Decision-Architecture-Whitepaper-Part-1.pdf AI in the boardroom:- https://slate.com/technology/2019/03/artificial-intelligence-corporate- board-algorithm.html