Session 15

INDIVIDUAL DECISION MAKING - continued

we will have done much of this in the last session

IS INDIVIDUAL DECISION MAKING A LEARNED OR AN INTUITIVE SKILL?
WHAT EXAMPLES OF INDIVIDUAL DECISION MAKING RESONATE WITH YOU?

One perspective on individual decison making

Why we make bad decisions | Dan Gilbert

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CAN RULES AND ALGORITHMS SERVE TO AUTOMATE OUR DECISIONS?

So the real question isn't "How do I remove unpredictability and randomness from my business?" It's "How do I deliberately make and structure decisions to increase the chance that novel ideas or outcomes lead to improvement?"

Three Proven Ways To Navigate Uncertainty by Alison Randel in The Ready, 28 July 2016

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YOU DON'T HAVE TO READ THESE UNLESS YOU WISH TO, BUT WE MIGHT TOUCH UPON THEM IN CONVERSATION

... a decision worked out by a group has a greater tendency to be more effective than that of an individual effort because it is an outcome of collective or cohesive minds. Individual decision making is best left to skilled decision makers. Yet, you might wonder, what about the day-to-day small decisions that only the individual himself should make? Well, these petty situations should mold you in learning to become independent with your decisions.

1. Read Individual Decision Making, a 2011 article on the topic in Exforsys, a consultancy

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The review will be divided into five sections: the theory of riskless choices, the application of the theory of riskless choices to welfare economics, the theory of risky choices, transitivity in decision making, and the theory of games and of statistical decision functions.

2. If you are interested in this topic in some depth, you may read Edwards, W. (1954). The theory of decision making. (Psychological Bulletin, Vol. 51, No. 4, 1954, pp. 380-417.)

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THINGS WE'LL TALK ABOUT

• how do ethics and loyalty impact an individual's likeliness to decide ethically within an organization?
• what kinds of pressures does an individual have to contend with that an organization does not? (family duties come to mind)
• are individual decisions within an organization less important than the decisions made by organizations as a whole? more important? the same?
• could you have made this decision in that situation?

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SOMETHING TO TAKE AWAY

Jake Shimabukuro

Jake became an international sensation in 2006 when a YouTube video of him playing While My Guitar Gently Weeps in Central Park - without his knowledge - became one of the very first viral videos on that site with millions of views.
Above the Basement

This was what it looked like then.

But the song has been done by many artists, this one at the Rock and Roll Hall of Fame 2004 Induction Ceremony.

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