Summary of The Right Decision

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Rating

7 Overall

8 Applicability

5 Innovation

7 Style


Recommendation

Making decisions is hard, and understanding new theoretical approaches to decision making can be even harder. Mathematics professor James Stein does a fine job of explaining these theoretical frameworks, converting abstract theory to applicable tools and illustrating his explanations with numerous examples. Stein offers many case studies, so readers can apply their understanding of the theoretical tools. But he doesn’t always provide sufficient explanation of the factors involved or the reasoning behind how the decision makers in the scenarios weigh their choices. That aside, this is a useful introduction to a complex subject. getAbstract recommends Stein’s methods to planners, managers, strategists and anyone who wants to make better decisions.

In this summary, you will learn

  • What making decisions involves,
  • What principles guide superior decision making and
  • How to make better decisions.
 

About the Author

James Stein is a professor of mathematics at California State University and the author of How Math Explains the World.

 

Summary

Decision Theory

At some point in your life, you’ll have to make a tough decision. You might have to choose between two risky and complicated medical treatments, for instance, or you may have to select between diverging career paths. The first decision might determine if you live or die. The second might set your future happiness and prosperity. For the best outcome, apply the “branch of mathematics known as decision theory.”


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