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Title: Decision Traps: The Ten Barriers to Brilliant Decision-Making and How to Overcome Them by J. Edward Russo, Paul, J.H. Schoemaker, Edward J. Russo ISBN: 0-385-24835-0 Publisher: Doubleday Books Pub. Date: 01 October, 1989 Format: Hardcover Volumes: 1 List Price(USD): $19.95

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Average Customer Rating: 5 (8 reviews)

Rating: 5
Summary: Too much belief in personal judgment
Comment: Most decisionmakers make the same kinds of error. There needs to be a frame for each problem. There should be avoidance of plunging in and relying too heavily on supposed good judgment. Drawing boundaries are part of framing the questions. Managers are apt to draw narrow boundaries.

Sometimes there is a failure to draw a boundary line. There is the sunk cost fallacy, basing current and future changes in operation on past expenditures for equipment. One is influenced by reference points in the the problem frame. Some decisions make sense through several different frames. In such a case there can be certainty that the decision is a good one.

Good communicators align their communications with the listeners' frames. Virtually all people put too much trust in their own opinions. Most people favor data supporting current belief. Wrongly we associate confidence with competence. One should be a realist when making a decision and an optimist when implementing it. Rules of thumb and other decisionmaking shortcuts are called heuristics. The disadvantages of intuitive decisionmaking are more profound than people realize.

Members of groups may agree prematurely on wrong decisions. Groups may suffer from too much cohesiveness, harmony, pressure, insulation, and strong leadership. In group think people practice self-censorship, pressure others, give in to an illusion of invulnerability and erroneous stereotyping. Groups composed of people of mixed types of personality are useful--receptive versus focused and thinking versus feeling types.

The book is written in veritable outline form, presumably to get the attention of busy managers. It has a extensive notes supplementing the text giving a student of business and other fields an opportunity to pursue related lines of inquiry.

Rating: 5
Summary: A simple but high value management tool book
Comment: A comprehensive outline of the major 10 decision traps from decision psychology aspects.

I benefit a lot from the book's reminder on those "traps" which I have also committed some.

A good value book.

Rating: 5
Summary: A must for anyone making strategic decisions
Comment: This book is excellent for anyone who is required to make strategic decisions. It will give you a clear framework for stepping back and making sure that you understand the problem that you are trying to solve and that you are considering all appropriate solutions to the problem.

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