Decision Fish Interviews Kim Stephenson, an occupational psychologist. Perhaps the greatest benefit of the World Wide Web, is contained in the first two words. Decision Fish’s blog has readership worldwide, self-selected to be some of the most thoughtful and smartest people anywhere. Kim Stephenson, an occupational psychologist from the UK is one of those people. Here’s a … Read more
I recently visited with a 27 year old who asked me for help in figuring out what to do with his life. He is about to start at a prestigious graduate school and is feeling pressure to make some big career decisions quickly. Here’s the letter I wrote him, inspired by Seneca’s Letters from a Stoic. Before you … Read more
Here’s a question that just about everyone approaching (and passing) middle age will feel ambivalent about: how does getting older affect our ability to make rational decisions? On the one hand, it’s common knowledge that our cognitive abilities begin to decline in our fifties. On the other, as I’ve written before, the accumulation of experience … Read more
How do men and women approach decision-making differently? An evidence-based answer to this question is important: If we want to make better personal, policy and business decisions, the tools and strategies we use will depend on our strengths and weaknesses, which may be correlated with gender. If we want to help others, we need to … Read more
I’ve got a wickedly complex decision to make. What should my priorities be now that I no longer have a full-time banking job? I’ve got at least a dozen different alternatives, each with subtle-to-obvious differences with respect to my key values including impact on my family, benefit to society, intellectual challenge, financial security and leverage of … Read more
Many of the most important decisions we make involve trade-offs between the present and future. How much of my income should I save today for my retirement? What costs should governments incur today to reduce the risk of catastrophic climate change in the (hopefully) distant future? How should businesses allocate investments that pay off in … Read more
A bias is an unconscious, natural and immediate prejudice or tendency to a particular action. Bias-driven decisions may or may not be consistent with that which may result from a more deliberative or thoughtful process. Biases can be harmful: think of prejudices in employment, housing and education. They can be helpful as when we slam on … Read more
My favorite article this week was Why Introverts Make Great Entrepreneurs, (WSJ) for three reasons: 1) it dispels the myth (which I held) that an entrepreneur must be extraverted; 2) it summarizes the relative strengths that introverts bring to business leadership, which can apply equally well to decision making in general and 3) It quotes Susan Cain, the author … Read more
We can we improve our ability to make wise choices in business and personal life by better understanding our brains and setting up conditions conducive to good decision-making. A good example is when we are confronted with a major life decision such as whether to seek (or accept) a new job. While few would argue this … Read more
The New York Times published a great, short article, complete with quiz, about confirmation bias. Confirmation bias is our innate preference to have our expectations, prejudices and assumptions confirmed. We can pay attention to confirming evidence and ignore contradicting evidence. The article measures this bias with a short quiz and argues that, when making a decision … Read more