Think Twice
Some practical advice to avoid the cognitive traps of decision making and see the facts as they really are.
Author(s): Michael J. Mauboussin
Publisher: Harvard Business Press
Date of publication: 2009
Manageris opinion
This book is devoted to the cognitive traps of decision making, when our intuition causes us to make totally erroneous decisions. In particular, it contains many warnings against several phenomena which prevent us from seeing the facts as they really are. The book is structured into eight chapters, each of which points out a specific type of risk, e.g. deluding yourself about your ability to beat the odds, relying too heavily on past performance to predict the future, seeing reality through the filter of the immediate environment, etc.
This book stands out for its remarkable combination of practical advice and detailed research findings. Each chapter, designed to be read independently, manages in just fifteen pages to simultaneously surprise, convince and prepare readers to become better decision makers. To explore the topic covered in this synopsis in greater depth, we advise focusing on chapters 1, 4, 6 and 8.
