How can Decision-making be Improved?


Found an interesting paper written by Katherine L. Milkman, Dolly Chugh and Max H. Bazerman on the topic.

The paper broadly talks about System 1(intuitive) and System 2 (explicit, effortful) of decision making and points out three ways of moving from System 1 to System 2:

a.) Gather historical data and analyse.

b.) Look at the situation and the implications of your intuitive decision as an outsider.

c.) Weigh the implications of a decision that is exact opposite of your current decision to see if your current decision has merit.

The paper can be found here.

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Avishek Gupta

I help drive sustainable development by financing the growth of professionally managed entrepreneurial ventures that solve key social and environmental problems. Having financed and observed over 250 ventures from close quarters, I understand the challenges that such ventures face in scaling up. I have the knowledge of process, financing and technology solutions that can help overcome those challenges. Separately, I have the experience of building businesses that finance early/growth stage companies. Most recently, I was involved with growing Caspian Debt to a full-fledged operating company from an initial 3 member fund investments team.

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