We were delighted to have Michelle Gilmore, Design Director and Founder of design firm Neo, speak at a recent Behavioral Economics-NYC meetup about her cutting-edge work in the design of products, services and systems. Her presentation led to a lot of interest and discussion among those who were there and particularly among those who missed out. … Continue reading Interview: Michelle Gilmore on Behavior-Centered Design
A High Stakes Hunch I had just got the news: the bank I worked for was going to sell the business I was supporting. This was going to be the seventh transition of my 27-year banking career. Should I try to find a new job in the industry or start my own business? Somehow, I … Continue reading The “Mystery” of Intuitive Decision Making
I’ve got a wickedly complex decision to make. What should my priorities be now that I no longer have a full-time banking job? I’ve got at least a dozen different alternatives, each with subtle-to-obvious differences with respect to my key values including impact on my family, benefit to society, intellectual challenge, financial security and leverage of … Continue reading Got a Tough Decision? Fuggedaboutit!
My family recently faced a bit of drama when my daughter was accepted to both a great state school and a wonderful, but much more expensive, private school . Naturally, my daughter strongly preferred the latter. As a finance guy with what I’d like to think is a disciplined approach to decision-making, how could I … Continue reading Why We Chose a College With Massively Negative Return on Investment
One of the most important and surprising things I’ve learned about decision-making is that we rely on, even require gut feelings to make important decisions about the future. Naqiv, et. al. (2006) write about findings in neuroscience that support the somatic-marker hypothesis, which suggests that when we make decisions under uncertainty, we choose among different … Continue reading We Use Feelings to Make Decisions, and that’s OK