Summary:
The book explores the psychological biases and heuristics that affect the decision-making processes of managers, offering insights and strategies for improving judgment. It covers topics such as overconfidence, framing effects, and ethical dilemmas, providing tools for more rational analysis and effective decision-making in a business context.
Key points:
1. Bounded Rationality: Herbert Simon's concept that people can't process all information, leading to less-than-ideal decisions. Managers should use strategies to improve decision-making despite these limits.
Books similar to "Judgment in Managerial Decision Making":
The Art of Thinking Clearly
Rolf Dobelli
You Are Now Less Dumb
David McRaney
Decisive
Chip Heath|Dan Heath
Sway
Ori Brafman|Rom Brafman
Irrationality
Stuart Sutherland
Eyes Wide Open
Noreena Hertz
What Your Employees Need and Can't Tell You
Melina Palmer
Hard Facts, Dangerous Half-Truths, and Total Nonsense
Jeffrey Pfeffer|Robert I. Sutton
You Are Not So Smart
David McRaney
Snap Judgment
David E. Adler