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How You Can Change Your Decision Making

Posted By Barry Ritholtz On June 17, 2013 @ 7:30 pm In Philosophy | Comments Disabled

I like the thought process here:

How You Can Change Your Decision Making

  1. Raise your awareness: Incomplete information and lots of uncertainty leads to poor outcomes
  2. Put yourself in the shoes of others: Consider the point of view or experience of other people
  3. Recognise the role of skill and luck: Sorting skill from luck is essential for evaluating outcomes
  4. Get feedback: Maintaining a decision-making journal allows you to audit your decisions
  5. Create a checklist: It will alert you to think clearly about what you might advertently overlook
  6. Perform a premortem: Assume that the decision has failed; look for reasons why
  7. Know what you can’t know: In decisions that involve systems with many interacting parts, causal links are frequently unclear

Read the full piece at Think Twice [1]

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URL to article: http://www.ritholtz.com/blog/2013/06/how-you-can-change-your-decision-making/

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[1] Think Twice: http://business.outlookindia.com/article.aspx?283881

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