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Predictably Irrational: The Hidden Forces That Shape Our Decisions is a 2008 book by Dan Ariely, in which he challenges readers' assumptions about making decisions based on rational thought. Ariely explains, "My goal, by the end of this book, is to help you fundamentally rethink what makes you and the people around you tick.
As of August 9, 2009, the book was 7th on the New York Times Best Seller list for hardcover nonfiction. [5] "A CFA Institute Top 20 All-Time – This book is a risk manager's guide to the right and wrong moves on Wall St., and explains why investors must stay ahead of policies coming out of Washington, D.C., and Europe." – CNBC. [6]
An increased awareness of the separate nature of one's self stated as context and one's actual experience stated as content in the book, can reduce worry and stress on a person. While worrying is a natural emotion for everyone, excessive worrying can interfere with problem-solving and decision-making. [3]
Disagree and commit is a management principle that individuals are allowed to disagree while a decision is being made, but that once a decision has been made, everybody must commit to implementing the decision. Disagree and commit is a method of avoiding the consensus trap, in which the lack of consensus leads to inaction. [1] [2]
The tendency to judge a decision by its eventual outcome instead of the quality of the decision at the time it was made. Pessimism bias: The tendency for some people, especially those with depression, to overestimate the likelihood of negative things happening to them. (compare optimism bias) Present bias
A continually evolving list of cognitive biases has been identified over the last six decades of research on human judgment and decision-making in cognitive science, social psychology, and behavioral economics. The study of cognitive biases has practical implications for areas including clinical judgment, entrepreneurship, finance, and management.
[4] A Financial Times review praises Johnson's suitability to address this topic, gracefully served examples, and its "positive" approach. [5] The Wall Street Journal said the book "lose(s) steam" in a consideration of decision-making at a global scale, illustrated with the issue of climate change, but its final chapter, regarding a momentous ...
A hidden profile is a paradigm that occurs in the process of group decision making.It is found in a situation when part of some information is shared among group members (i.e. all members possess this information prior to discussion), whereas other pieces of information are unshared (i.e. information known to only one member prior to discussion). [1]