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Jos Nieland Netherlands
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How to Avoid Anchoring in Strategic Decision Making?
🔥 NEW 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 anchoring bias: 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', a medical term), which decision makers do not see or expect, or do not want to see. And these side effects are particularly severe and dangerous in Taleb's fourth quadrant ("wild randomness", see the summary of Black Swan Theory).
The question I have is: 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?
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Nhlanhla Sibisi Student (University), Germany
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The Experience Factor in Strategic Decision Making..
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Paramathmuni srinivas Kumar India
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Role of Consciousness in Decision Making
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Jaap de Jonge Editor, Netherlands
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Will Consciousness Help a Lot?
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Ian van Jaarsveld Strategy Consultant, South Africa
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Anchoring Bias and Influences
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Marcel Wiedenbrugge Consultant, Netherlands
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How People make Decisions
Kahneman's book 'Thinking, fast and slow' already ...
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Tom Wilson HR Consultant, United States
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Everything Anchors Bias; Consider 6TH
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Marcel Wiedenbrugge Consultant, Netherlands
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Decision Making - 6 Hats
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Venta Longman Turnaround Manager, Jamaica
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6TH Expands Decision Making
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Alan Kennedy, Canada
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The WRAP Model of Decision-Making
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J Braun Entrepreneur, United States
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Understanding the Basic Power of Disagreement
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Paramathmuni srinivas Kumar India
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Consciousness Based Decision Making
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Makini Business Consultant
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Experience in Decision Making
@Nhlanhla Sibisi: it's true that experience can gu...
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Jos Nieland Netherlands
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Preparing for Downsides/ Sideeffects After the Decision
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Tom Wilson HR Consultant, United States
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Constantly Operating Contingencies
@Makini: I agree completely. In fact, the more exp...
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Venta Longman Turnaround Manager, Jamaica
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Experience, Imagination, Creativity and Adaptation in Decision Making
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Jim Carwardine Business Consultant, Canada
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AB Can Be Avoided..
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Tom Wilson HR Consultant, United States
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Creating a Mindset Begins with AB
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Oluyemi Anjorin HR Consultant, Nigeria
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Damodaram Kuppuswami Consultant, India
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Jim Carwardine Business Consultant, Canada
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Anchoring Bias Can Be Avoided..
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Mucherwa Oliver Ngoni, Zimbabwe
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Avoiding Anchoring in Strategic Decision Making
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Tom Wilson HR Consultant, United States
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AB is a Characteristic of the Self-organizing Mind
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Paramathmuni srinivas Kumar India
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Irrational Elements Can Educated
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Tom Wilson HR Consultant, United States
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The Unconscious Can Be Enriched Through Experiential Training
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Paramathmuni srinivas Kumar India
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Tom Wilson HR Consultant, United States
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shashinhale Wanna Project Manager, Tanzania
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Decision Making, Age Contribute to Biasness
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Jorge Garrido, Mexico
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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?
A lot of executives never played in a team when th...
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Satya Nistala India
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Anchored Bias or Anchoring Bias. How to Avoid it?
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Tom Wilson HR Consultant, United States
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Action as Meditation
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Paramathmuni srinivas Kumar India
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The Effect of Yoga on Avoiding Anchoring Bias
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