Why is there no perfect decision (2)
Bounded Rationality
Can only use the information available to us
Satisficing
Most acceptable solution, but not optimal one
PADIL Framework (5)
Systemic approach to solve a problem (2)
How to generate many alternatives (2)
Brainstorming steps (4)
Brain writting
Participating to generating ideas anonymously and build upon them
How to decide on a solution
Define decision criteria to evaluate alternatives
How to avoid being paralyzed by multiple choice (2)
How to make a decision
State problem, reason and solution
How to implement the decision (2)
How to learn and seek feedback
Examine if solution was the right one and still is the right one
Why smart people make bad decisions (3)
Intuition (2)
Fundamental attribution error
Over-attributing other’s behavior to internal rather than external cause
Self-serving bias
Attribute success to internal cause and failure to external cause
Error Judgements (6)
Availability bias
Thinking readily available information is more important
Representative bias
Judge based on pattern / stereotype
Gambler’s fallacy
Misconception of chance
Hastey generalization fallacy
Drawing inapropriate conclusion from specific cases
Anchoring / adjustment bias
Provide estimates based on initial estimates regardless of accuracy
Confirmation bias
Collect evidence to support our intuition