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Question: Retrieve the interview with Kahneman, in the March 2012 Gallup Management Journal titled The Truth About How We Think; We're all prey to cognitive mistakes, says Nobel Laureate Daniel Kahneman. But knowing that can help you avoid them from the Internet. You may need to use a search engine, or search the online library.
No matter how rational we think we are; biases, heuristics, and other fallacies can keep us from making sound decisions. Kahneman has conducted numerous studies of how people actually make decisions, a field known as behavioral economics.
INSTRUCTIONS
How can you better avoid the fallacies in thinking that Kahneman described? Describe how you have fallen prey to one of his fallacies in thinking. You'll want your example to be complex enough to warrant using a decision tree to make a better choice. Construct a decision tree in reference to a past personal or business decision in which you fell prey to fallacious thinking. After preparing your decision tree (showing what you should have known/done), discuss how this tool might help you prevent such a mistake in the future. You would still use the discussion thread as usual but, you may either paste your decision tree in your document or attach as a separate document if you need to to preserve the formatting. Identify why and how a decision tree might aid you in making better decisions in relation to Kahneman's concerns.
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