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Framing Decisions - Decision-Making that Accounts for Irrationality, People and Constraints - Frame

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Description

 							
  
  The economic crisis of 2008 2009 was a transformational event: it demonstrated that smart people aren't as smart as
they and the public think. The crisis arose because a lot of highly educated people in high-impact positions political
power brokers, business leaders, and large segments of the general public made a lot of bad decisions despite
unprecedented access to data, highly sophisticated decision support systems, methodological advances in the decision
sciences, and guidance from highly experienced experts. How could we get things so wrong? The answer, says J. Davidson
Frame in Framing Decisions: Decision Making That Accounts for Irrationality, People, and Constraints, is that
traditional processes do not account for the three critical immeasurable elements highlighted in the book's subtitle
irrationality, people, and constraints. Frame argues that decision-makers need to move beyond their single-minded focus
on rational and optimal solutions as preached by the traditional paradigm. They must accommodate a decision's social
space and address the realities of dissimulation, incompetence, legacy, greed, peer pressure, and conflict. In the final
analysis, when making decisions of consequence, they should focus on people both as individuals and in groups. Framing
Decisions offers a new approach to decision making that gets decision-makers to put people and social context at the
heart of the decision process. It offers guidance on how to make decisions in a real world filled with real people
seeking real solutions to their problems 						

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