12. You can judge the quality of a decision by the success of the outcome…………
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12. You can judge the quality of a decision by the success of the outcome…………
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Many believe that you can judge the quality of a decision by the success of the outcome…………’
But can you really?’
What if the person making the decision was reckless or had a high propensity for risk-taking, or was a gambler?
And what if the reason there was a successful outcome was mere luck?
What we need to think about is the role the decision or decisions that were made played in the outcome.
What do we know about the biases that may have come into play when a particular decision is being made?
In this episode, we also look at outcome, champion, and experience biases because they can all have a major impact on decision-making.
If you’d like to know more, read ‘You’re about to make a terrible mistake’ by Olivier Sibony.
This is a great journey into understanding how cognitive biases can distort our decision-making processes.
https://www.amazon.com/Youre-About-Make-Terrible-Mistake/dp/0316494984
If you really want to improve your own decision-making, the London School of Economics (LSE) run a number of programmes and courses on the science behind decision-making under the leadership of Dr. Barbara Fasilo