Decision Making Articles

Freaking out about the guy the “Freakonomics” guy freaks out about

November 1, 2015 ~ Written by: W.B. “Bud” Kirchner “Thinking is the hardest work there is, which is probably why so few engage in it.” – Henry Ford The phrase Business Brain Model was chosen to illustrate the spectrum of disciplines that I consider to be relevant to the world of business – primarily neuroscience...


November 22, 2015 ~ Written by: W.B. “Bud” Kirchner “I know you think you understand what you thought I said but I’m not sure you realize that what you heard is not what I meant.” – Alan Greenspan Given that empathy seems to be at least a sign of weakness if not a ‘bad word’...

The Ironic Magnitude of Cognitive Biases

“A cognitive bias is a genuine deficiency or limitation in our thinking – a flaw in judgment that arises from errors of memory, social attribution and miscalculations (such as statistical errors or a false sense of probability).” ~ George Dvorsky

A Field Guide to Thinking Errors

I suppose it is possible, after reviewing the list of biases that I have flagged (Part Two of this series, "The Ironic Magnitude of Cognitive Biases") as most likely (and perhaps) even after my reference in that post to there being about 150 identified cognitive biases, that someone should conclude it’s not that much to worry about.

Arming Yourself in the Battle with Your Mind

Just to compound the situation of thinking errors still further: the more time you spend making decisions (including trying to avoid the hundreds of “traps” that are out there) the lower your overall willpower will be.

People Based Due Diligence

One of the most universal techniques in business is due diligence. We all use it prior to adding new clients or suppliers and in investing in new companies and new relationships. However, what is not universal is the order of the process.