Framing Decisions – Decision Making That Accounts for Irrationality, People and Constraints

<p>List of Figures xi</p>
<p>Preface xiii</p>
<p>1 An Evolving Decision–Making Paradigm 1</p>
<p>The Traditional Paradigm 3</p>
<p>The Real World 5</p>
<p>Rethinking Decision Making 8</p>
<p>The Cognitive Challenge 15</p>
<p>Adjusting to the New Paradigm 16</p>
<p>Conclusion: It Isn t Easy Getting It Right 18</p>
<p>2 Decisions and Decision Making 21</p>
<p>Different Perspectives on Decision Making 25</p>
<p>Rational, Irrational, Nonrational Decisions 38</p>
<p>Dealing with Unknowns 42</p>
<p>3 The Social Context of Decision Making 47</p>
<p>The Social Context 49</p>
<p>The Social Space of Decision Making 51</p>
<p>Allison s Multiple Perspectives on Decision Making 52</p>
<p>The Link Between Stakeholder and Decision–Maker 55</p>
<p>The Implementation Challenge 56</p>
<p>Accommodating External Forces 57</p>
<p>Conclusion 58</p>
<p>4 The Organizational Dimension 61</p>
<p>Organizational Structure 62</p>
<p>Organizational Process 69</p>
<p>People in Organizations 71</p>
<p>Organizational Culture 72</p>
<p>Conclusion 85</p>
<p>5 The Moral Dimension 87</p>
<p>Broad Categories of Moral Failings 89</p>
<p>Moral Hazard 101</p>
<p>Principal–Agent Dilemma 107</p>
<p>Morality, Ethics, and Legality: They Are Diff erent 109</p>
<p>Last Word 111</p>
<p>6 People as Decision–Makers 115</p>
<p>Factors That Affect How Individuals Make Decisions 116</p>
<p>A Unique Perspective on Personality and Decision Making: Elliott Jaques, Human Capability, and Time Span of Discretion 135</p>
<p>Conclusion 138</p>
<p>7 The Wisdom and Foolishness of Crowds 141</p>
<p>Individual Versus Group Decision–Participation Spectrum 141</p>
<p>Making Decisions in Groups 148</p>
<p>Degrees of Consensus 150</p>
<p>Defining Consensus 150</p>
<p>Reaching a Decision 159</p>
<p>The Wisdom and Foolishness of Crowds 162</p>
<p>Honeybee Decision Making 173</p>
<p>8 The Biology of Decision Making 177</p>
<p>Brain Basics 178</p>
<p>The Lazy Brain 179</p>
<p>Visual Illusions: What You See Isn t What You Get 186</p>
<p>Examples of Visual Illusions 189</p>
<p>Brain Deception Beyond Visual Illusions 197</p>
<p>The Maturing Brain 200</p>
<p>Conclusion 207</p>
<p>9 Toward an Empirically Rooted Understanding of Decision Making 211</p>
<p>In the Beginning: Toward an Empirical View 213</p>
<p>Evidence of Unconscious Deliberation in Decision Making: Three Empirical Approaches 214</p>
<p>The Contribution of Empirical Research: Where Do We Stand? 228</p>
<p>Empirical Research on Decision Making in the Neurosciences 232</p>
<p>The Contribution of Neuropsychology Research: Where Do We Stand? 241</p>
<p>The Need for Research on Decisions of Consequence 242</p>
<p>10 Seven Lessons 247</p>
<p>Seven Lessons for Highly Effective Decision–Makers 248</p>
<p>Last Word 258</p>
<p>References 261</p>
<p>Acknowledgments 267</p>
<p>The Author 269</p>
<p>Index 271</p>