Product Description

Leaders in all fields-business, medicine, law, government-make crucial decisions every day. The harsh truth is that they mismanage many of those choices, even though they have the right intentions. These blunders take a huge toll on leaders, their organizations, and the people they serve.

Why is it so hard to make sound decisions? We fall victim to simplified mental routines that prevent us from coping with the complex realities inherent in important judgment calls. Yet these cognitive errors are preventable.

Sharing vivid stories from business and beyond, Mauboussin offers powerful rules for avoiding each error. And he explains how to know when it's time to think twice-to question your reasoning and adopt decision-making strategies that are far more effective, even if they seem counterintuitive.

Master the art of thinking twice, and you'll start spotting dangerous mental errors-in your own decisions and in those of others. Equipped with this awareness, you'll soon begin making sounder judgment calls that benefit (rather than hurt) your organization.

Product Details

• Amazon Sales Rank: #19264 in Books
• Published on: 2009-10-01
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 204 pages

About the Author
Michael J. Mauboussin is Chief Investment Strategist at Legg Mason Capital Management. He has been an adjunct professor of finance at Columbia Business School since 1993. BusinessWeek's Guide to the Best Business Schools (2001) highlighted Michael as one of the school's "Outstanding Faculty," a distinction received by only seven professors.

Customer Reviews

Don't THINK TWICE about buying this book !!!
regard decision making as a fundamental skill in life. It's always been a mystherie to me why books on decision making do not attract a large audience. As the author writes: There's a funny paradox with decision making. Almost everyone realizes how important it is, yet very few people practice (let alone read about it).

THINK TWICE is a fantastic book for people interested in decision making. In particular, why we often fail and how we can improve our skills. Mauboussin offers deep insights into the topic. It's not a dummies book. Readers should expect academic rigor in all of Mauboussin's books. The reader finds a framework for thinking twice without a detailed structure. In particular the last chapter, Time to Think Twice", the author offers some guidance in how we can improve our decision making skills immediately.

In my opinion, there used to be only one outstanding book on decision making: ,Smart Choices`. For practical purposes in decision making, like how to use decision trees, it's still the best book in the market. But ,Think Twice` offers a lot more on the subject. In particular why we make mistakes regarding decisions. Now we got two brilliant books on the subject.

Helpful guide to better decision making
Research indicates that people buy more German wine when a store's sound system plays German music in the background and more French wine when it plays French music. However, shoppers claim that the background music has no effect on their wine choices. Most people think that they make rational decisions, even if they do not. In this example, irrelevant, low-level sensory input determines people's choices. Michael J. Mauboussin, a finance professor and investment strategist, wants to help people make better decisions. In his book, he details the most common decision-making mistakes and suggests practical techniques you can use to avoid them. getAbstract recommends this book to people who want to increase their awareness of their own irrationality and, especially, to managers in decision-making positions, whose mistakes may have ripple effects throughout their organizations and even beyond.