Behavioral Economics (BE), a mash-up of psychology and economics, originally interested me because it promised a way to understand and predict mistakes that people make. This helped me do a better job as a banker to governments and nonprofits, because I could help them (and me) avoid those mistakes. It took a while for me to … Continue reading Make Any Decision
What do classical music in the train station, binge-inducing pre-loaded TV show episodes in Netflix, and those “I voted stickers” you get after voting have in common? Read our latest article, “Nudges: For Your Own Good?” about how government and businesses “nudge” your behavior for your own good…or maybe not (5 minute read). Continue reading Nudges: For Your Own Good?
In short an objective decision is a just and fair one, supported by verifiable facts, with which rational and informed people will tend to agree. That said, subjectivity has its place. It’s up to us to determine mindfully the degree of objectivity is required in each case. Continue reading Objective: Decision
Do you want a simple and easy tool for making an important decision? The simplest “tool” is a heuristic. A short-cut like “take the default” or “do what everyone else is doing” may be fine for selecting a restaurant entrée or route to the grocery store. But what about more important decisions like taking a … Continue reading Taking the Red Pill: Into the Decision Matrix
On January 31st, Decision Fish led a lively session on how to Help Millennials Make Better Financial Decisions as part of Impact Hub NYC’s 100 Days of Impact program. 100 Days of Impact is a community program to find out what we can do as a community to address concerns and make an impact. Continue reading Help Millennials Make Better Financial Decisions
Open enrollment for health insurance began November 16 and the decision isn’t any easier than last year. On the contrary, not only are premiums higher and benefits lower, there’s greater uncertainty about the future of the Obama health care act. On a cold, cloudy Sunday afternoon, I analyzed my health insurance choices. Our choices and … Continue reading Health Insurance Enrollment: A Superhuman Decision
I just attended the best conference ever. And I’ve been to a lot of them. The ideas42 Behavioral Summit 2016 was billed as offering “…an inside look at the latest developments from the field of behavioral science and how these insights drive innovation in the private sector.” Indeed it went beyond that, touching on politics, … Continue reading Good Behavior? What I Learned at the Behavioral Summit (and How it Freaked Me Out a Little)
Ethical Decisions are Everywhere The homeless guy I walked past. The hamburger I ate and the tip I left. The verbally abusive parent on the subway that I ignored. The $20 bill I found in the back of a cab. The elections. Life, at work and at home, is full of ethical decisions, choices about … Continue reading How to be Ethical in Under Four Minutes*
Our decisions, and the actions they lead to, make us who we are. In that sense, decisions are fundamental to our identities, our humanity and even the future of our planet. But what is a good decision and how do we get great at making them? I want to share with you my answers to … Continue reading Can One Become Great at Decision-Making?
Group Decision-Making is Really Hard Whom should we hire, promote or fire? Who should we put on this proposal writing team and what should we propose? I’ve made or participated in such group decisions hundreds of times and I’ve never felt confident in the process or the outcome. Did we come up with the right … Continue reading The Promise and Peril of Group Decision-Making