Clear thinking and bias(es) in decision making

I took a training last week on risk assessment and management and one of the topics addressed that can be extrapolated for us all regarding making good decisions: we all have biases and we can’t change them, but we can become aware of our personal favorites and ask ourselves questions when making decisions regarding these biases.

Biases are actually helpful for dealing with life: they simplify it.  We have information and sensory overload,especially in the 21st century.  Because of this, we pay attention to things we already have on our radar, to surprising things, and changes and then flaws (but only in other people), all of which help confirm our existing beliefs (this is a very big bias- I bet we all have this).

Then, meaning in life is often unclear these days so we reduce the world in order to have a consistent world view.  To do this, we find and focus on stories that help our world views (even if they are anecdotal and have little or no data relevance), we use stereotypes, generalizations and history (personal and communal) to make best guesses about who to trust and accept information from.  This is sometimes called group attribution error. Then, of course, we like and trust those people who are “like us”.  This is called the halo effect. Then, we hate complicated numbers so we simplify them - this covers a whole load of biases, but one is called the normalcy bias.  

Another bias has to do with expectations we have of others because we often believe we are mind readers (rather than suspending judgement).  We think they think like us (but they don’t!).  This also has to do with looking into the future and we think our past mindset will help us in the future, and we thus can be change-resistant.

So what can be done about these biases (I am told the count is somewhere around 175 of them!)?

·      Pay attention to new information and try to take it in from different (if possible, independent or “neutral”) sources, or at least sources you would suppose do not support your own biases.  

·      Pay attention to how you decide things.  For small decisions like where to eat out and what movie to watch this is not necessary- we have our own preferences for a reason.  For other decisions, watch yourself and ask, “why” as often as possible.

·      For decisions regarding your safety, the safety of your company or team, or moving forward with change, know your biases, and check out if you can help others who are in the decision-making process focus on theirs.

Next week I will write/post a sequel to this, as I am about half-way, now.

May you make great decisions this week!

Patricia Jehle                           patricia@jehle-coaching.com