Tag Archives | decision making

The Availability Heuristic Impacts Decision Making

The availability heuristic is a cognitive bias which describes our tendency to use information that comes to mind quickly when making decisions. If we think of something quickly (i.e., it’s more available to our memory), we assume it’s a more frequent and more probable event. If we have a harder time thinking of something (less…

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How to Make Better Decisions

I always ask aspiring business people: How do you beat Bobby Fischer, the renowned chess champion of the 1970’s? The Answer: Play him at anything but chess. This excerpt is from the second chapter of Seymour Schulich’s book, Get Smarter: Life and Business Lessons. Schulich is a self-made billionaire and one of Canada’s greatest philanthropists, having…

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