Numbers don’t lie - but they often mislead us. From health risk to financial decisions, it can be hard to understand statistics because they are often presented to us by ‘experts’ who misinterpret the data. In his book Risk Savvy, Professor Gerd Gigerenzer shows us all how we can make better decisions by becoming better-informed citizens and able to judge risk for ourselves.
Professor Gigerenzer is Director of the Center for Adaptive Behaviour and Cognition at the Max Planck Institute for Human Development in Berlin and former Professor of Psychology at the University of Chicago. He is the author of several bestselling books on heuristics and decision making including Reckoning with Risk.
In our discussion, we talk about heuristics and how your quest for certainty can hold you back from taking creative risks. Professor Gigerenzer also shares why intuition or ‘gut feeling’ has such a bad reputation in the business world even though it is essential for successful decision-making in times of uncertainty.
Enjoy the show.
https://www.jamestaylor.me/heuristic-decision-making-301