deepstash
Beta
Daniel Kahneman: The Thought Leader Interview
Group decisions are not risk-free
- Groups are better equipped than individuals to recognize an answer as correct. But, when the whole group is susceptible to similar biases, groups are inferior to individuals.
- Polarization can occur in groups. One major bias in risky decision making is optimism, while doubts are suppressed. If an individual in a group is thinking differently to the group, it is easy to understand how they would suppress themselves.
- However, in groups of competing individuals, such as the corporate investment committee, the different dynamics can lead to better decision-making.
- In an internal marketplace where groups come to a consensus about the risks and rewards associated with their decisions, internal incentives can shape how the group perceives risks and rewards that are different from the reality of the risks and rewards in the external marketplace. The incentives can distort risk perception.
83 SAVES
269 READS
SIMILAR ARTICLES & IDEAS:
2
Key Ideas
"May the fourth be with you"
"May the fourth be with you" plays on the phrase in Star Wars "may the Force be with you."
"May the fourth be with you" was popularized by Margaret Thatche...
Becoming a slogan
The pun on "May the Force be with you" has been used a number of times over the years.
Once In 2008, a Facebook group celebrated "Luke Skywalker Day" and adopted the May the Fourth slogan. Since then, May 4 has been a regular fandom celebration. In 2013, Disney also joined in the celebration.
War games
War games are a great way to learn about history and warfare.
The Prussians used war games in the 19th c. to prepare for conflicts. So did the WATU (the UK Western Approach...
War games to hone intuitive decision making
War games are a great tool to sharpen intuitive decision making. Considering that they provide insight, learning, professional development, and entertainment, they can be applied in a very specialized way.
The civilian market offers a variety of computer and board war games that serve this purpose and is often better at simulating war than those designed by the military.
Computer vs. Tabletop games
Computer-based and tabletop-based games fulfil a different purpose and can be complementary.
- Computer war games are great at simulating the command environment but weak in its tendency for micromanagement and too much detail.
- Tabletop war games are useful for studying situations in-depth and top-down. It emphasizes the human and technological aspect. The rules provide the gamer insights into war and competition from the beginning.