Summary of Why We Make Bad Decisions

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Why We Make Bad Decisions summary
Decisions that seem like no-brainers may not be as straightforward as you think.

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Recommendation

Basic human errors in calculating the odds and value of success distort the decision-making process. Psychologist Dan Gilbert educates his audience in this humorous lecture that implicates human naïveté in poor decision making. getAbstract recommends this eye-opening oration to consumers, financial advisors and product strategists.

In this summary, you will learn

  • How the human decision-making process is fallible
  • Why cognitive errors prevent you from making sound decisions
 

Summary

In 1738, polymath Daniel Bernoulli formulated a seemingly simple equation: Expected value equals the odds of gaining multiplied by the value of the gain. This formula should aid decision making. However, ...
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About the Speaker

Psychologist Dan Gilbert studies the brain’s influence on happiness. He wrote Stumbling on Happiness.


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