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How to make better decisions

12/6/2013

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Many people believe that they can control the emotional elements involved when making decisions. They cannot. In fact those who are most sure of this 'fact' usually excel at post-decision rationalisation rather than having the ability to totally eliminate emotional impact. Examples abound and one that struck me recently was of the senior exec who declared he would never - for a host of very rational reasons - drive a Mercedes  (he drives a BMW).
This video of highlights from a BBC documentary made back in 2008 is still a good ice-breaker if you want to discuss this subject in your management team. Just 8 minutes long, it highlights different aspects of the decision-making process and features Dr de Martino's work which establishes how decision-making is largely balanced between the frontal lobes and the amygdala, a part of the older, reptilian brain.
http://www.bbc.co.uk/sn/tvradio/programmes/horizon/broadband/tx/decisions/highlights/.
He has now moved on to work on establishing the degree of confidence that people have in their decisions, having studied under Daniel Kahneman as part of a Wellcome post-doctorate fellowship.
Picture
Featured in the video highlights: Dr B Martino from UCL London
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    James Capon is a founding partner of Lazy Horses. He feels he is rational when he needs to be. But he's probably wrong about that.

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