Detect and Mitigate Decision Biases

Sydney Finkelstein

Sydney Finkelstein

Sydney Finkelstein, Jo Whitehead and Andrew Campbell of Dartmouth’s Tuck Business School, posit that leaders make decisions largely through unconscious neural processes in their book and Harvard Business Review article, Think Again: Why Good Leaders Make Bad Decisions and How to Keep it from Happening to You

• Pattern recognition
• Emotional tagging.

Although these processes are usually effective “heuristics” that enable quick and often prudent decisions, pattern recognition and emotional tagging can be distorted by biases including:

• Self-interest
• Emotional attachments to a position
• Misleading memories derived from inaccurate generalizations from dissimilar previous situations

The authors articulate common-sense recommendations to detect and mitigate “red flags” to decisional bias, echoing conclusions from much-earlier research on “GroupThink” more than four decades ago:

• Enlist the perspective of an independent person to identify which decision makers are likely to be affected by self-interest, emotional attachments, or misleading memories

• Develop safeguards and oversight mechanisms in organizational governance processes

• Alert decision-makers to possible sources of bias

• Build in opportunities to analyze, “spar”, challenge, decisions

-*What approaches do you use to detect and neutralize your potential biases in decision-making?

LinkedIn Open Group – Mindful Leadership:
Twitter: @kathrynwelds
Google+
Facebook Notes:

©Kathryn Welds

Advertisements

15 thoughts on “Detect and Mitigate Decision Biases

  1. Pingback: Is Optimistic View of the Future Associated with Disabilities, Shorter Life Expectancy? | Kathryn Welds | Curated Research and Commentary

  2. Pingback: Perseverance Increases Skill Increases Luck: “The Harder I Work, The Luckier I Get” | Kathryn Welds | Curated Research and Commentary

  3. Pingback: Hiring by Cultural Matching: Potential for Bias | Kathryn Welds | Curated Research and Commentary

  4. Pingback: Consider All Your Options at Once, Be Happier with Choices: Minimize “Quest for the Best” Bias | Kathryn Welds | Curated Research and Commentary

  5. Pingback: Hypothetical Questions May Lead to Bias | Kathryn Welds | Curated Research and Commentary

  6. Pingback: Reduce “Affective Forecasting” Errors with a Geographic Cure? | Kathryn Welds | Curated Research and Commentary

  7. Pingback: How Sure are You of Your “Memories”? Suggestibility, Insertion, and Construction of Recall | Kathryn Welds | Curated Research and Commentary

  8. Pingback: Decision Maximizers, Satisficers and Potential Bias | Kathryn Welds | Curated Research and Commentary

  9. Pingback: Reduce Evaluator Bias: Showcase Best Features in Any Offer | Kathryn Welds | Curated Research and Commentary

  10. Pingback: “Productive Pause”, Intuition for Better Decisions | Kathryn Welds | Curated Research and Commentary

  11. Pingback: Pattern Recognition in Entrepreneurship | Kathryn Welds | Curated Research and Commentary

  12. Pingback: Biases in Unconscious Automatic Mental Processing, and “Work-Arounds” | Kathryn Welds | Curated Research and Commentary

  13. Pingback: Biased Time Perception – Mind Time, Clock Time, and Einstein | Kathryn Welds | Curated Research and Commentary

  14. Pingback: Emotional Music Can Lead to Biased Judgments | Kathryn Welds | Curated Research and Commentary

  15. Pingback: Diverse Teams Analyze Problems More Effectively | Kathryn Welds | Curated Research and Commentary

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s