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.
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
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
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
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