Daniel Kahneman
๐ค SpeakerAppearances Over Time
Podcast Appearances
So actually, I have the same idea, really, that when you are making decisions, you should think of options as if they were candidates.
So you should break it up into dimensions, evaluate each dimension separately, then look at the profile, and the key is delay your intuition.
Don't try to form an intuition quickly, which is what we normally do.
Focus on the separate points.
And then when you have the whole profile,
then you can have an intuition and it's going to be better.
Because people form intuitions too quickly and the rapid intuitions are not particularly good.
So if you delay intuition until you have more information, it's going to be better.
You delay intuition by focusing on the separate problems.
So our advice is that if you have, you know, a board of directors making decisions about an investment,
We tell them, you do it that way.
Take the separate dimensions and really think about each dimension separately and independently.
And don't allow, you know, if you're the chair, don't allow people to give their final judgment.
Say, we'll wait until we cover the whole thing.
I mean, if you find a deal breaker, then you stall.
But if you haven't found a deal breaker, wait to the end.
and look at the profile, and then your decision is almost certainly going to be better.
Yeah, I mean, it makes you see the trade-offs more clearly.
Otherwise, when we don't follow that discipline, there is a way in which people form impressions.
Very quickly you form an impression, and then you spend most of your time confirming it instead of collecting evidence.