How to Avoid Anchoring in Strategic Decision Making?

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Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.     Log in Anchoring Bias > Forum > How to Avoid Anchoring in Strategic Decision Making? How to Avoid Anchoring in Strategic Decision Making? Jos Nieland, Netherlands, Premium Member Recently, Taleb and Nobel prize-winning psychologist Daniel Kahneman together explored their differing approaches to unlocking the mysteries of decision making processes (in the New York Library). Taleb learned from Kahneman the idea of : when you ask someone the last four figures of his social security number and then how many dentists exist in Manhattan, there will be a correlation according to Kahneman. People use available 'knowledge', information and forecasts (KIF) without any doubt. And the more complex the KIF presented, the riskier decisions people make! People are too 'gullible' (Editor: ~naive, unsuspecting) using KIF. Besides this naivety, sometimes it can also be very profitable for them to use complex KIF (think of bonuses and rewards). So people, according to psychology, will overly use (early) presented KIF in their decisions. And that can be disastrous: such decisions, based on anchoring and forecasting, can have severe side effects (Taleb calls them 'iatrogenics (...) Read more? Sign up for free   Please register now to read all responses and to join this discussion yourself. It's easy and 100% free. Sign up for free     Log in   The Experience Factor in Strategic Decision Making.. Nhlanhla Sibisi, Student (University), Germany, Member (...)     Role of Consciousness in Decision Making srinivas, Lecturer, India, Member (...)     Will Consciousness Help a Lot? Jaap de Jonge, Management Consultant, Netherlands (...)     Anchoring Bias and Influences Ian van Jaarsveld, Strategy Consultant, South Africa, Member (...)     How People make Decisions Marcel Wiedenbrugge, Consultant, Netherlands, Member (...)     Everything Anchors Bias; Consider 6TH Tom Wilson, HR Consultant, United States, Premium Member (...)     Decision Making - 6 Hats Marcel Wiedenbrugge, Consultant, Netherlands, Member (...)     6TH Expands Decision Making Venta Longman, Turnaround Manager, Jamaica, Member (...)     The WRAP Model of Decision-Making Alan Kennedy (...)     Understanding the Basic Power of Disagreement J Braun, Entrepreneur, United States, Member (...)     Consciousness Based Decision Making srinivas, Lecturer, India, Member (...)     Experience in Decision Making Makini, Business Consultant, Member (...)     Preparing for Downsides/ Sideeffects After the Decision Jos Nieland, Netherlands, Premium Member (...)     Constantly Operating Contingencies Tom Wilson, HR Consultant, United States, Premium Member (...)     Experience, Imagination, Creativity and Adaptation in Decision Making Venta Longman, Turnaround Manager, Jamaica, Member (...)     AB Can Be Avoided.. Jim Carwardine, Business Consultant, Canada, Member (...)     Creating a Mindset Begins with AB Tom Wilson, HR Consultant, United States, Premium Member (...)     Decision Making Viz-a-Viz Bias Oluyemi Anjorin, HR Consultant, Nigeria, Member (...)     Objectivity and Self Inquiry Damodaram Kuppuswami, Consultant, India, Member (...)     Anchoring Bias Can Be Avoided.. Jim Carwardine, Business Consultant, Canada, Member (...)     Avoiding Anchoring in Strategic Decision Making Mucherwa Oliver Ngoni, HR Consultant, Zimbabwe, Member (...)     AB is a Characteristic of the Self-organizing Mind Tom Wilson, HR Consultant, United States, Premium Member (...)     Irrational Elements Can Educated srinivas, Lecturer, India, Member (...)     The Unconscious Can Be Enriched Through Experiential Training Tom Wilson, HR Consultant, United States, Premium Member (...)     Role of Good Association srinivas, Lecturer, India, Member (...)     Dissociation and Good Association Tom Wilson, HR Consultant, United States, Premium Member (...)     Decision Making, Age Contribute to Biasness shashinhale Wanna, Project Manager, Tanzania, Member (...)     How do You Prevent Anchoring Bias (AB) from Occurring When Making Strategic Decisions in your Organization and if You Can`t How do You Counter These Severe Side Effects? Jorge Garrido, Director, Mexico, Member (...)     Anchored Bias or Anchoring Bias. How to Avoid it? Satya Nistala, India, Member (...)     Action as Meditation Tom Wilson, HR Consultant, United States, Premium Member (...)     The Effect of Yoga on Avoiding Anchoring Bias srinivas, Lecturer, India, Member (...)

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