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Reframe Your Strategy to Avoid Hidden Biases

Harvard Business Review

These biases arise from what Kahneman and his long-time research partner Amos Tversky call framing. One example is casting the challenge for strategy as defeating competitors — the perennial use of warfare, martial arts, and chess analogies being one expression. The result? These will often be the ones that appeal less.

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Why Companies Are Betting Against Big Ideas

Harvard Business Review

This idea of prospect theory, developed by Tversky and Kahneman and reported in a classic 1979 article (for which the Nobel prize was awarded) demonstrated that individuals do not make decisions rationally by selecting options with the highest expected value, because they are risk-averse and 'losses loom larger than gains.'.