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Behavioral Economics and Decision Making: 51 Exercises
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Behavioral Economics and Decision Making: 51 Exercises

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Authors: Richard Brynteson and Steve Manderscheid

People are prone to making poor decisions. They
make decision errors every day—decision errors
that jeopardize their well-being and the well being
of those around them. Our assumption in developing;
these exercises is that awareness and understanding
will lead to better decision-making practice, i.e.,
individual, team, organization, and societal change.

 

This Traditional decision making processes or best practices fall shoort when casual influences on decision making are ignored. Authors Brynteson and Manderscheid have unlocked decision making to enable individuals and teams to break away from habitual patterns.

This collection of 51 exercises provides experiential
learning for individuals and teams to make smarter,
faster, more accurate decisions.


51 Exercises/Activities in 4 Categories to
Improve Decision Making Quality:

Unit 1: Decision-Making Basics

System /System Basics

Decision Maker’s Dilemma

Choices and Criteria

Five Decision-Making Modes

The Great Paradox of Decision Making

Values and Decisions

Concerns to Clear Objectives

Working with Polarity

Decision-Making Styles

Event, Pattern, and Structure

 

Unit 2: Behavioral Economics Principles

Loss Aversion

Expert Intuition

What drives you?

Monkeys and Empathy

The Elephant, the Rider, and the Path

Anchoring and Adjustment

Lowering Cognitive Effort

Imposed Self-Control

The Law of Unintended Consequences

Value Attribution

Black Pearls

You call this work?

Nice Words, Mean Words

Availability to the Imagination

Lost in a Big Box World

Which story are you going to tell?

What is your Black Swan?

 

Unit 3: Group Decision Making

Five Fingers to Consensus

Divergent AND Convergent…Best of Both Worlds

The Robbery—The Power of Consensus

Concept Fan

Implications Exploration

Planning Fallacy

 

Unit 4: Dysfunctional Thinking

The Abilene Paradox

The Illusion of Invulnerability

Decision Fatigue

Halos and Horns

The Memory Game

Illusion of Causality

The Wrong Tools

Throwing Away Tools

Sunk Costs

Stuck with Locked Horns

Stuck at the End of Your Nose

Wooden Headedness

Perfect, or Good Enough

Irrational Thinking

Expect Error

Structure Complex Choices

We Have Always Done It This Way

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