Life is Luck — Here’s How to Plan a Career Around It

Harvard Business Review

Daniel Kahneman has claimed the following as his favorite equation: Success = talent + luck. Kahneman’s implication is that the difference between moderate and great success is mostly luck, not skill. Chance plays a much greater role in our careers than we might wish or even realize. But the downside — the thought of our careers as the playthings of fate — is almost unbearable. Mitigating the risks of uncertainty in your career.

Why Leaders Don’t Listen

Great Leadership By Dan

You may have started your career happily fumbling up the ladder, but the more recognition and successes you gain, the more you have to lose by accepting that other ideas could be better today. Guest post by Marcia Reynolds, PsyD “Leaders boldly go where no one has ever gone before.”

Trending Sources

How to Make Better Decisions

Leading Blog

A remarkable aspect of your mental life," says Daniel Kahneman, "is that you are rarely stumped." Forty-four percent of lawyers would not recommend a career in law to young people. "Why do we have such a hard time making good choices?" ask Chip and Dan Heath in Decisive. "A

Curiosity Is as Important as Intelligence

Harvard Business Review

What fewer people know, or like to accept, is that IQ does affect a wide range of real-world outcomes, such as job performance and objective career success. Complex environments are richer in information, which creates more cognitive load and demands more brainpower or deliberate thinking from us; we cannot navigate them in autopilot (or Kahneman’s system 1 thinking).

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.'. Firms and their executives, like the subjects in the Tverskey and Kahneman experiments, have an aversion to losses, and a tendency to undervalue gains.

Your Judgment of Risk Is Compromised

Harvard Business Review

Daniel Kahneman and Amos Tversky provide perhaps the best theoretical framework in which to understand the phenomenon. Embracing Risk in Career Decisions. A key aspect of risk intelligence is recognizing the limits to your knowledge.

Why We Shouldn't Bank on Growth

Harvard Business Review

Psychologists Daniel Kahneman and Amos Tversky attributed this tendency to what they called the "availability" heuristic (rule of thumb): our minds give inordinately heavy weighting to the most readily available/recent/vivid data and experiences.