In business, as in other areas of life, uncertainty lurks around every corner. What does the future hold? How can we prepare for the unexpected? What is the right decision at this time? We, the people, have created a repertoire of unconscious mechanisms to help us cope with the lack of security. Although these mechanisms can soothe feelings of helplessness and paralysis, they can cloud our judgment. The authors explain how three of these traps the mind work. Hindsight bias, overconfidence, and risk appetite loss "Hide
by Manel Baucells, Martin Weber Source: IESE-Insight Magazine 8 pages. Publication Date: June 15, 2009. Prod. #: IIR003-PDF-ENG
Related Case Solutions & Analyses:
Automating the Paris Subway (B)
Creating Bold Innovation in Mature Markets
Creating New Knowledge the Japanese Way
Brooke Correll and Clos Du Val: Adventures in Napa Valley (A) and (B) (Condensed)
Cold Opportunity (B): The ICEHOTEL Story
Wareham SC Systems Inc.
The Blackstone Group: Merlin Entertainment
Mubadala: Forging Development in Abu Dhabi
Differences at Work: Emily (A)
What Should the Federal Reserve Do Thoughts of Greenspan and Bernanke
