Framing Decisions

Download or read book Framing Decisions written by J. Davidson Frame and published by John Wiley & Sons. This book was released on 2012-10-15 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis of 2008–2009 was a transformational event: it demonstrated that smart people aren't as smart as they and the public think. The crisis arose because a lot of highly educated people in high-impact positions— political power brokers, business leaders, and large segments of the general public—made a lot of bad decisions despite unprecedented access to data, highly sophisticated decision support systems, methodological advances in the decision sciences, and guidance from highly experienced experts. How could we get things so wrong? The answer, says J. Davidson Frame in Framing Decisions: Decision Making That Accounts for Irrationality, People, and Constraints, is that traditional processes do not account for the three critical immeasurable elements highlighted in the book's subtitle— irrationality, people, and constraints. Frame argues that decision-makers need to move beyond their single-minded focus on rational and optimal solutions as preached by the traditional paradigm. They must accommodate a decision's social space and address the realities of dissimulation, incompetence, legacy, greed, peer pressure, and conflict. In the final analysis, when making decisions of consequence, they should focus on people – both as individuals and in groups. Framing Decisions offers a new approach to decision making that gets decision-makers to put people and social context at the heart of the decision process. It offers guidance on how to make decisions in a real world filled with real people seeking real solutions to their problems.

Download or read book Framers written by Kenneth Cukier and published by Penguin. This book was released on 2021-05-11 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Cukier and his co-authors have a more ambitious project than Kahneman and Harari. They don’t want to just point out how powerfully we are influenced by our perspectives and prejudices—our frames. They want to show us that these frames are tools, and that we can optimise their use.” —Forbes From pandemics to populism, AI to ISIS, wealth inequity to climate change, humanity faces unprecedented challenges that threaten our very existence. The essential tool that will enable humanity to find the best way foward is defined in Framers by internationally renowned authors Kenneth Cukier, Viktor Mayer-Schönberger, and Francis de Véricourt. To frame is to make a mental model that enables us to make sense of new situations. Frames guide the decisions we make and the results we attain. People have long focused on traits like memory and reasoning, leaving framing all but ignored. But with computers becoming better at some of those cognitive tasks, framing stands out as a critical function—and only humans can do it. This book is the first guide to mastering this human ability. Illustrating their case with compelling examples and the latest research, authors Cukier, Mayer-Schönberger, and de Véricourt examine: · Why advice to “think outside the box” is useless · How Spotify beat Apple by reframing music as an experience · How the #MeToo twitter hashtag reframed the perception of sexual assault · The disaster of framing Covid-19 as equivalent to seasonal flu, and how framing it akin to SARS delivered New Zealand from the pandemic Framers shows how framing is not just a way to improve how we make decisions in the era of algorithms—but why it will be a matter of survival for humanity in a time of societal upheaval and machine prosperity.

Download or read book Choices, Values, and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Download or read book Behavioral Decision Making written by George Wright and published by Springer Science & Business Media. This book was released on 2013-03-11 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Time Pressure and Stress in Human Judgment and Decision Making written by A.J. Maule and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some years ago we, the editors of this volume, found out about each other's deeply rooted interest in the concept of time, the usage of time, and the effects of shortage of time on human thought and behavior. Since then we have fostered the idea of bringing together different perspectives in this area. We are now, there fore, very content that our idea has materialized in the present volume. There is both anecdotal and empirical evidence to suggest that time con straints may affect behavior. Managers and other professional decision makers frequently identify time pressure as a major constraint on their behavior (Isen berg, 1984). Chamberlain and Zika (1990) provide empirical support for this view, showing that complaints of insufficient time are the most frequently report ed everyday minor stressors or hassles for all groups of people except the elderly. Similarly, studies in occupational settings have identified time pressure as one of the central components of workload (Derrich, 1988; O'Donnel & Eggemeier, 1986).

Download or read book Frame It Again written by José Luis Bermúdez and published by Cambridge University Press. This book was released on 2020-11-05 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to tackle personal dilemmas and the deadlock of political discourse by using this book's rational framing techniques.

Download or read book Decision Quality written by Carl Spetzler and published by John Wiley & Sons. This book was released on 2016-02-24 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Add value with every decision using a simple yet powerful framework Few things are as valuable in business, and in life, as the ability to make good decisions. Can you imagine how much more rewarding your life and your business would be if every decision you made were the best it could be? Decision Quality empowers you to make the best possible choice and get more of what you truly want from every decision. Dr. Carl Spetzler is a leader in the field of decision science and has worked with organizations across industries to improve their decision-making capabilities. He and his co-authors, all experienced consultants and educators in this field, show you how to frame a problem or opportunity, create a set of attractive alternatives, identify relevant uncertain information, clarify the values that are important in the decision, apply tools of analysis, and develop buy-in among stakeholders. Their straightforward approach is elegantly simple, yet practical and powerful. It can be applied to all types of decisions. Our business and our personal lives are marked by a stream of decisions. Some are small. Some are large. Some are life-altering or strategic. How well we make those decisions truly matters. This book gives you a framework and thinking tools that will help you to improve the odds of getting more of what you value from every choice. You will learn: The six requirements for decision quality, and how to apply them The difference between a good decision and a good outcome Why a decision can only be as good as the best of the available alternatives Methods for making both "significant" and strategic decisions The mental traps that undermine decision quality and how to avoid them How to deal with uncertainty—a factor in every important choice How to judge the quality of a decision at the time you're making it How organizations have benefited from building quality into their decisions. Many people are satisfied with 'good enough' when making important decisions. This book provides a method that will take you and your co-workers beyond 'good enough' to true Decision Quality.