Making Decisions in a Complex Adaptive System
In Think Twice: Harnessing the Power of Counterintuition, Mauboussin does a good job adding to the work we’ve already done on complex adaptive systems: You can think of a complex adaptive system …
Decision Making
Books Everyone Should Read on Psychology and Behavioral Economics
Earlier this year, a prominent friend of mine was tasked with coming up with a list of behavioral economics book recommendations for the military leaders of a G7 country and I was on the limited email …
How Situations Influence Decisions
Michael Mauboussin, the first guest on our podcast, The Knowledge Project, explains how our situations influence our decisions enormously in Think Twice: Harnessing the Power of Counterintuition. …
Simple Rules: How to Thrive in a Complex World
“Simple rules are shortcut strategies that save time and effort by focusing our attention and simplifying the way we process information. The rules aren’t universal— they’re tailored to the …
The Wisdom of Crowds and The Expert Squeeze
As networks harness the wisdom of crowds, the ability of experts to add value in their predictions is steadily declining. This is the expert squeeze. *** In Think Twice: Harnessing the Power of …
13 Practical Ideas That Have Helped Me Make Better Decisions
This article is a collaboration between Mark Steed and myself. He did most of the work. Mark was a participant at the last Re:Think Decision Making event as well as a member of the Good Judgment …
Kyle Bass: How Freediving Enables Better Decision Making
Below find an excerpt taken from an interview between Raoul Pal and Kyle Bass (a hedge fund manager based out of Texas.) What resonates with me here is the need to find a way out of a world where we …
Developing a Mental Framework for Effective Thinking
Becoming a better thinker means understanding the way you think and developing a way of approaching problems that allows you to see things from multiple lenses. These lenses, or mental models, are …
Fooled By Randomness: My Notes
I loved Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Taleb. This is the first popular book he wrote, the book that helped propel him into an intellectual …
A Simple Way to Improve the Pro-Con List to Make Better Decisions
The first chapter in Seymour Schulich‘s book, Get Smarter: Life and Business Lessons, offers a decision tool that adds to the simple pro-and-con list that many of us have used to make decisions. …
The Relationship Between Design and Planning
While I’m not all that interested in military doctrine and tactics in and of themselves, I am interested in complex systems, how the weak win wars, and the lessons military leaders offer (for …
The History of Cognitive Overload
The Organized Mind: Thinking Straight in the Age of Information Overload, a book by Daniel Levitin, has an interesting section on cognitive overload. Each day we are confronted with hundreds, probably …
The Power of Noticing: What the Best Leaders See
In The Power of Noticing: What the Best Leaders See, Harvard Professor Max Bazerman, opines about how the failure to notice things leads to “poor personal decisions, organizational crises, and …
What makes Warren Buffett a great investor? Intelligence or Discipline?
I thought this excerpt from Warren Buffett’s 2011 interview in India was relevant to not only investing but also decision making. A member of the audience says to Buffett: “As we all know, …
Using Language to Change How We Think
What kind of thinking leads to better outcomes? That’s the question that Roger Martin addresses in his excellent book Diaminds: Decoding the Mental Habits of Successful Thinkers. Changing how we …
Charlie Munger on the Value of Thinking Backward and Forward
One of the five simple notions to solve problems is the concept of inversion. To solve problems we need to look at them both forward and backward. But how does this look in practice? Let me give you …