Chapter 13. Understand common “decision traps”
You can’t trust your own mind. We all make idiosyncratic mistakes in our individual decisions, but we share some common flaws that lead us into decision traps. In their classic book, Decision Traps, J. Edward Russo and Paul Schoemaker identified ten of the most dangerous decision traps in decision making:
Acting too quickly or plunging in without giving sufficient attention to gathering information and deciding how to decide
Solving the wrong problem due to frame blindness
Having limited perspective and lack of “frame control”
Displaying overconfidence in your judgment
Being blindsided by conventional wisdom or other “shortsighted shortcuts”
Shooting from the hip rather than using a systematic procedure ...
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