First Friday Book Synopsis

FEBRUARY 20, 2012

Bob's blog entries Amos Tversky “Analysis of the Top 50 U.S. Serial Innovators: Firms That Change the World Claudio Feser John Wiley & Sons (2012) How and why continuous innovation and adaptation can help an organization “live” longer What we have here is a “hybrid” narrative that develops on two separate but interdependent levels: a fictional account that focuses on Carl Berger (CEO of American Health [.].

Tversky 77

Tversky Innovation Review Kahneman 77

QAspire

JANUARY 22, 2018

The term ‘cognitive bias’ was coined by Amos Tversky and Daniel Kahneman in 1972 which quite simply means “our tendency to filter information, process facts and arrive at judgments based on our past experiences, likes/dislikes and automatic influences.”. I attended a very interesting workshop a few weeks ago on the topic of “Unconscious Bias” facilitated by Smita Tharoor. I was interested in this topic because I explored the intersection of critical thinking and leadership a few years ago.

Tversky 153

Tversky Senge Kahneman Workshop 153

Tanveer Naseer

MARCH 1, 2016

The idea of cognitive biases was introduced by Amos Tversky and Daniel Kahneman in the early 1970s. Tversky and Kahneman also showed that they could predict quite accurately when people would act irrationally, because the irrational behavior was due to measurable cognitive biases. The following is a guest piece by author Matt Tenney. If your schedule is anything like mine, finding time to consistently devote to your own leadership development is likely quite a challenge.

Skills 120

Skills Development Tversky Kahneman 120

CO2

SEPTEMBER 11, 2015

First, Arnott reviewed some of the most prominent taxonomies: Tversky and Kahneman (1974) Three General Purpose Heuristics. by Gary Cohen. He who knows and knows that he knows, He is wise, follow him. He who knows and knows not that he knows, He is asleep, awaken him. He who knows not and knows not that he knows not, He is a fool, shun him.

Tversky 102

Tversky Sample Kahneman Construction 102

Chartered Management Institute

JANUARY 6, 2012

Probably the best known experiment into representativeness heuristics was conducted by Amos Tversky and Daniel Kahneman in the 70's. The chances are you haven't heard of representativeness heuristics, and there's no real reason for you to do so. They represent the stereotypes and biases we use on a daily basis to help us make fast judgements about a particular situation. Most of the time they're quite useful but every now and then they can trip us up, so it pays to be aware of them.

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Tversky Kahneman Library Morale 59

CO2

SEPTEMBER 11, 2015

First, Arnott reviewed some of the most prominent taxonomies: Tversky and Kahneman (1974) Three General Purpose Heuristics. He who knows and knows that he knows, He is wise, follow him. He who knows and knows not that he knows, He is asleep, awaken him. He who knows not and knows not that he knows not, He is a fool, shun him. He who knows not and knows that he knows not, He is a child, teach him. – Arabian proverb.

Tversky 60

Tversky Sample Kahneman Construction 60

Harvard Business

MAY 4, 2016

The role of thinking processes in decision making was made prominent by Daniel Kahneman and the late Amos Tversky , whose Nobel Prize–winning research argues that economic decision makers are subject to deeply held cognitive biases. But Kahneman and Tversky also believed that cognitive biases exist because they are effective survival tools. Many experts argue that creative thinking requires people to challenge their preconceptions and assumptions about the way the world works.

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Tversky Kahneman Creativity Review 32

Harvard Business Review

NOVEMBER 9, 2015

Of course, I love whenever we outperform our benchmark or peer group, but the pain of underperforming is much more painful than the pleasure of winning the same amount, a phenomenon studied at length by Daniel Kahneman and Amos Tversky. The company I co-founded is now ten years old. While we’re an investment firm, many of the things I’ve learned as CEO transcend any particular industry.

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Tversky Kahneman Benchmarking Travel 9

Harvard Business Review

AUGUST 1, 2012

The basic concept , first presented by Nobel Laureate Daniel Kahneman and his partner Amos Tversky in an influential 1979 paper, is that human beings are astonishingly bad at estimating how long it will take to complete tasks. "You have to deliver $300 million in incremental growth by 2015," the business unit head told the leader of his innovation team. That's less than 5 percent of our revenues, so that should be quite doable.".

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Kahneman Tversky Christensen Wilde 12

Harvard Business Review

AUGUST 2, 2012

Another election, another framing battle. And once again, the Republican party seems to have the edge. Tax relief, death taxes, pro-life, small government, tax and spend. Why don't Democrats come up with these kinds of memorable, emotive frames? Take this election cycle's biggest controversy: health care reform. Republicans sidelined their rivals by framing the Patient Protection and Affordable Care Act around "mandates" and "taxes," and by calling it "Obamacare."

Tversky 12

Tversky Health Care Incentives Politics 12

Harvard Business Review

JULY 23, 2012

The psychologists Daniel Kahneman and Amos Tversky demonstrated quite convincingly that we human beings are not the model-optimizing "rational" actors that many economists historically believed we are. Among the many qualities that distinguish successful leaders from millions of less-successful executives in the world is an awareness of the limits of their knowledge.

Tversky 12

Tversky Kahneman Review Self-aware 12

Harvard Business Review

JUNE 8, 2012

Daniel Kahneman , a renowned psychologist who won the Nobel Prize in economics, developed this concept in the 1970s along with his collaborator, Amos Tversky. I'll Have Another will try to enter the pantheon of horseracing by winning the Belmont Stakes , the final leg of the Triple Crown, on Saturday night (June 9, 2012). Editor's note: On Friday afternoon, June 8, a leg injury forced I'll Have Another out of the race.)

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Beyer Tversky Kahneman Price 12

Harvard Business Review

JUNE 21, 2012

Daniel Kahneman and Amos Tversky provide perhaps the best theoretical framework in which to understand the phenomenon. A key aspect of risk intelligence is recognizing the limits to your knowledge. People's judgment of risks is deeply compromised by psychological biases. One of the most pervasive of these is a phenomenon called the favourite long-shot bias , first observed by the American Psychologist Richard Griffith in 1949.

Tversky 12

Tversky Kahneman Sports Rate of Return 12

Harvard Business Review

FEBRUARY 29, 2012

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.'.

Kahneman 12

Kahneman Tversky Review Budgeting 12

Harvard Business Review

JUNE 8, 2012

Daniel Kahneman , a renowned psychologist who won the Nobel Prize in economics, developed this concept in the 1970s along with his collaborator, Amos Tversky. I'll Have Another will try to enter the pantheon of horseracing by winning the Belmont Stakes , the final leg of the Triple Crown, on Saturday night (June 9, 2012). Following exciting wins in the Kentucky Derby and the Preakness, the chestnut colt is trying to do what no horse has done in 34 years.

Beyer 12

Beyer Tversky Kahneman Price 12

Harvard Business Review

JULY 10, 2014

I didn’t realize that noted academics Amos Tversky and Daniel Kahneman were studying this exact phenomenon, which they officially named “ loss aversion.”. I work in the investment business, where risk-taking is an occupational necessity. There isn’t anyone successful at managing a mutual or hedge fund who avoids risk; we just need to face it carefully.

Tversky 8

Tversky Kahneman Hedge Bond 8

Harvard Business Review

JANUARY 3, 2013

First developed by Danny Kahneman and Amos Tversky in 1979, the planning fallacy simply states that people will consistently underestimate how long a task will take even when they have experience with similar tasks taking longer than expected. The US military's F-35 Lightning II was going to change everything.

Tversky 8

Tversky Kahneman Review Budgeting 8

Harvard Business Review

OCTOBER 9, 2012

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. One of the most consistently problematic decision-making biases is the overweighting of recent data and personal experiences.

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Tversky Kahneman IPO Real Estate 8

Harvard Business Review

JANUARY 4, 2013

Two years later, in 2002, the co-leader of that invasion, Princeton psychology professor Daniel Kahneman, won an economics Nobel (the other co-leader, Amos Tversky, had died in 1996). "By almost any market test, economics is the premier social science," Stanford University economist Edward Lazear wrote just over a decade ago. The field attracts the most students, enjoys the attention of policy-makers and journalists, and gains notice, both positive and negative, from other scientists.".

Tversky 9

Tversky Levitt Kahneman Crisis 9

Harvard Business Review

JULY 2, 2013

Amos Tversky and I] concluded from many such observations that ''losses loom larger than gains'' and that people are loss averse.". People are generally not all that happy about risk. As Nobel Prize-winning psychologist Daniel Kahneman has written, "For most people, the fear of losing $100 is more intense than the hope of gaining $150.

Kahneman 8

Kahneman Tversky Hedge Banking 8

Harvard Business Review

APRIL 11, 2013

Barbara Tversky and Jeff Zacks found in the early 2000s that lines imply transitions whereas bars imply individual values. Visualization is easy, right? After all, it''s just some colorful shapes and a few text labels. But things are more complex than they seem, largely due to the the ways we see and digest charts, graphs, and other data-driven images. While scientifically-backed studies do exist, there are actually many things we don''t know about how and why visualization works.

Tversky 8

Tversky Directory Review Banking 8

Harvard Business Review

JUNE 20, 2014

This popular triumph of the “ heuristics and biases ” literature pioneered by psychologists Daniel Kahneman and Amos Tversky has made us aware of flaws that economics long glossed over, and led to interesting innovations in retirement planning and government policy. Researchers have confronted us in recent years with example after example of how we humans get things wrong when it comes to making decisions.

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Kahneman Tversky Banking Apparel 8

Harvard Business Review

APRIL 2, 2014

It feels like it’s got a little bit of Kahneman and Tversky in it. When the Riksbank Prizes in Economic Sciences (a.k.a. the economics Nobels) were announced last fall , the news was greeted with some confusion and amusement.

CAPM 8

CAPM Discount Price Tversky 8