Think Twice: Harnessing the Power of Counterintuition

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Harvard Business Press, Jan 1, 2009 - Business & Economics - 190 pages
29 Reviews
Leaders in all fields-business, medicine, law, government-make crucial decisions every day. The harsh truth is that they mismanage many of those choices, even though they have the right intentions. These blunders take a huge toll on leaders, their organizations, and the people they serve.

Why is it so hard to make sound decisions? We fall victim to simplified mental routines that prevent us from coping with the complex realities inherent in important judgment calls. Yet these cognitive errors are preventable. In Think Twice, Michael Mauboussin shows you how to recognize-and avoid-common mental missteps, including:

-Misunderstanding cause-and-effect linkages

-Aggregating micro-level behavior to predict macro-level behavior

-Not considering enough alternative possibilities in making a decision

-Relying too much on experts

Sharing vivid stories from business and beyond, Mauboussin offers powerful rules for avoiding each error. And he explains how to know when it's time to think twice-to question your reasoning and adopt decision-making strategies that are far more effective, even if they seem counterintuitive.

Master the art of thinking twice, and you'll start spotting dangerous mental errors-in your own decisions and in those of others. Equipped with this awareness, you'll soon begin making sounder judgment calls that benefit (rather than hurt) your organization.
  

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Review: Think Twice: Harnessing the Power of Counterintuition

User Review  - Eva - Goodreads

This book describes and examines some fascinating biases and errors we humans are subject to. Some fun quotes/notes: His capricious performance evoked what lab researchers call Harvard's Law, “Under ... Read full review

Review: Think Twice: Harnessing the Power of Counterintuition

User Review  - Jonathan Jeckell - Goodreads

This took a lot of theoretical work on cognitive science and distilled it down to practical tools to apply in real world decision making. It summarized a lot of material on heuristics and biases you ... Read full review

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About the author (2009)

Michael J. Mauboussin is Chief Investment Strategist at Legg Mason Capital Management. He has been an adjunct professor of finance at Columbia Business School since 1993. BusinessWeek's Guide to the Best Business Schools highlighted him as one of the school's "Outstanding Faculty"-a distinction received by only seven professors.

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