Have you ever wondered how you make a decision? Most people believe that in any given situation they make rational, common sense choices that will maximize their success and happiness. In truth, our minds work in mysterious ways that often lead people to make decisions that run counter to their best interests. The major work on this subject was done in the 70’s and 80’s by a pair of Israeli researchers who revolutionized the field. Their names were Daniel Kahneman and Amos Tversky.
In his latest book, Micheal Lewis, author of The Blind Side and The Big Short, looks at the fascinating life and work of these two researchers in his new book, The Undoing Project. It provides a fun introduction to some of Kahneman and Tversky’s greatest discoveries, including anchoring, base rate fallacy, framing, and prospect theory. The book is an enjoyable character study of the unique partnership between these two researchers whose work has impacted fields far from academia, including medicine and sports.
After reading the book, you may become skeptical about the quality of your decisions, but at the same time you will learn ways to double check your thought process so that you can make a better decisions.