For faster and better decisions, a biased and less-informed mind

Authors

Knowledge@SMU

Publication Type

Journal Article

Publication Date

5-2011

Abstract

Can a biased mind, with fewer inputs, make faster and better decisions? Apparently, this premise, flying in the face of conventional logical thinking, is possible, and there were real life examples indicating so. At a recently held Behavioural Sciences Forum at Singapore Management University, Gerd Gigerenzer of Berlin’s Max Planck Institute, explained how heuristics, which directs focus to areas that matter and blocks off non-essential noise, factors in the decision-making process.

Disciplines

Business | Strategic Management Policy

Copyright Owner and Holder

Copyright © Singapore Management University 2012

Licece/Creative Commons Licence

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.

Article ID

1362

Subject(s)

Strategic Management

Citation

Knowledge@SMU. For faster and better decisions, a biased and less-informed mind. (2011).
Available at: https://ink.library.smu.edu.sg/ksmu/366