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Category ArchiveDecision Making

Decision Making 15 May 2007 11:47 am

Topic 5: Decision Making (a few last minute details)

Our next topic is decision making.

For those calling in, just as a reminder here are the details

9:45 am PT/11:45 am CT — 11:00 am PT/1:00 pm CT
passcode 180 487

And don’t forget to download these two exhibits. Why they are exhibits for decision making will be revealed tomorrow.

Map of Middle East

Detailed Map of Middle East

Decision Making 10 May 2007 10:27 am

Topic 5: Decision Making (Prisoner’s Dilemma)

The Prisoner’s Dilemma.

What a great way to think about decision making. What a great way to think about being prisoner without actually having to be one.

There are many aspects of decision making, but one important one has to do with “predicting” what others will do. If I decide to do this, how will this person or that person respond (or the “market” react)? If I decide to take up hang gliding, how will my spouse take it?

This dilemma is a good way to think about “predicting” as part of the decision-making process. Of course part of that is, what happens if I do not predict well? How do I take that into account?

We will be talking about this next Wednesday. In the mean time, try to stay out of the slammer (or at least “decide” not to have an acccomplice).

Decision Making 07 May 2007 01:43 pm

Topic 5: Making Decisions (Lemons)

This is a very nice article from a Nobel Prize winning economist, George A. Akerlof

Now, don’t let that scare you away.

It is all about “lemons”, you know, like used cars. How do we make decisions when we are buying something that may have “uncertain” quality or value? If you have a really, really good car, do you think you can sell it for its real value, or will buyers be suspicious?

This is a great way to start thinking about making decisions (or not, I can’t decide…).

Decision Making 07 May 2007 09:38 am

Topic 5: Decision Making (Some Reading Material)

It is always good to start out with some good reading. I think you will find this series from the Harvard Business Review very helpful: Why Bad Decisions Happen to Good Managers

Just in case you think these articles have to take a long time to read and digest–I suggest that just skimming them for the basic ideas will be very helpful.

Back with more soon. Looking forward to our meeting, Wednesday, May 16.

We will start off with Bill Caldwell’s excellent briefing on employee performance evaluations.