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This much I know: Daniel Kahneman

This much I know: Daniel Kahneman | Decisions, complexity, visualisation | Scoop.it
The 78-year-old Nobel prize-winning psychologist on his pessimistic mother, the delusion of investment bankers and the need for irony...
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Decisions, complexity, visualisation
A scoop all about taking tough decisions, what makes the challenging (comlexity) and what helps you combat the complexity and make the decisions (visualisation)
Curated by Simon Gifford
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What's Better for Business: Logic or Emotion? Answers From Neuroscience - Forbes

What's Better for Business: Logic or Emotion? Answers From Neuroscience - Forbes | Decisions, complexity, visualisation | Scoop.it
Part 1 of a series on neuroscience and innovation Humans are animals.  While we like to think we're captains of our destiny, we're far more driven by instinct than we know.  In many ways, we’re just glorified apes, even in business.

Via David Hain
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Laura Goodrich's comment, April 3, 2013 3:27 PM
Yes, a blend of both is powerful Tom Wojick
Cris Popp's curator insight, April 4, 2013 3:26 PM

I think you do better in life, and at work, if you accept that better than 85% of our behaviours are driven by unconscious drivers.  You just have to look at politics to see that often, decisions are made first, and justified afterwards.  This is fine when you're making a decision just for yourself – but if you're making decisions that affect others, they need to be made from a more rational basis.
This is especially the case, when through technology, a leader can have a much longer lever of control and reach over others.  That reach ranges from beiong as small as authority over someone elses job adn job happiness, all the way to the leaders of North Korea and the nuclear threat they wield over millions of people.
This is why, leaders especially, need to be aware of their own motives, and drivers, and to be humble about their perspective.  Their decsions may be perfectly rational - they need to accept they may not.  When I judge leaders, this capacity is one of the most important factors that I use.

Cris Popp's comment, August 29, 2013 3:48 PM
I agree Tom, it's about how to use both, And how to use each to develop the other. For example , testing your gut feel to see how accurate it is.
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Video Article: Embracing Complexity

Video Article: Embracing Complexity | Decisions, complexity, visualisation | Scoop.it

Your grade ten math teacher probably wrote this several times on your tests: SIMPLIFY. And, for much of science, that’s part of the work: SIMPLIFY. The universe can be broken down into smaller and smaller chunks in an attempt to find its most basic level and functions. But what do you do when that doesn’t work? Complex systems that defy reduction are all around us, from the elaborate workings of an ant colony—which could never be predicted from the physiology of a single ant—to fluctuations in the financial system that can send ripples around the globe. When broken into their constituent pieces, examined and put back together, such systems do not behave as expected. The sum of the parts does not equal the whole

 

Interview to Raissa D’Souza by Graeme Stemp Morlock

http://www.fqxi.org/community/articles/display/174

 


Via Complexity Digest, Eugene Ch'ng
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Lengthy but interesting

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starwalker's curator insight, January 28, 2013 1:17 AM

"I firmly believe networks become more interdependent in time," says D’Souza. "We see the global economy becoming more interdependent. We see Facebook making everyone more interconnected. We’re relying increasingly on technologies like the Internet and communications networks, for instance, the smart-grid, a cyber-physical system. All these networks that used to operate more independently are now becoming more interconnected, and to me that is really a signature of time."

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Economics and the Brain: How People Really Make Decisions in Turbulent Times

Economics and the Brain: How People Really Make Decisions in Turbulent Times | Decisions, complexity, visualisation | Scoop.it
In a 2008 paper on neuroeconomics, economist George Loewenstein said: “Whereas psychologists tend to view humans as fallible and sometime self-destructive, economists tend to view people as efficient maximisers of self-interest who make mistakes only when imperfectly informed about the consequences of their actions.”

Via Alessandro Cerboni
Simon Gifford's insight:

Interesting (although slightly rambling) article

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How BE turns debt repayment on its head | Comment | Research

How BE turns debt repayment on its head | Comment | Research | Decisions, complexity, visualisation | Scoop.it
Crawford Hollingworth tackles the issue of debt in the run-up to Christmas, and how behavioural economics can be used by financial services firms to help ease the burden on our bank accounts.
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BRAIN POWER: From Neurons to Networks

Great movie about the web and a childs mind. Deserves to go viral.
Via Abel Revoredo
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What Is Behavioral Economics? | Dan Ariely | Big Think

Duke professor Dan Ariely has little faith in human rationality. (RT @DavidButlerUCC: Dan Ariely explains what Is Behavioral Economics in 4minutes?
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Making effective decisions in organisations

Making effective decisions in organisations | Decisions, complexity, visualisation | Scoop.it
Article by Deloitte on effective decision making discussing collaboration between CIO and CFO.
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Behavioral economics taps power of persuasion for tax compliance | Business and Finance Today

Behavioral economics taps power of persuasion for tax compliance | Business and Finance Today | Decisions, complexity, visualisation | Scoop.it
Behavioral economics taps power of persuasion for tax compliance - (Reuters) - Can peer pressure make delinquent...
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Living Cells Show How to Fix the Financial System

Living Cells Show How to Fix the Financial System | Decisions, complexity, visualisation | Scoop.it
Over the past three decades, the global financial system has become more dynamic and interconnected, more concentrated and complicated than ever before.
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The 11 Ways That Consumers Are Hopeless at Math

The 11 Ways That Consumers Are Hopeless at Math | Decisions, complexity, visualisation | Scoop.it

Think before you buy ... or better still: think before you sell (and imcrease sales and profit)!

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Data visualisation: Is ‘interesting’ enough? at Mark Needham

Data visualisation: Is ‘interesting’ enough? at Mark Needham | Decisions, complexity, visualisation | Scoop.it
Thoughts on Software Development...
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This much I know: Daniel Kahneman

This much I know: Daniel Kahneman | Decisions, complexity, visualisation | Scoop.it
The 78-year-old Nobel prize-winning psychologist on his pessimistic mother, the delusion of investment bankers and the need for irony...
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New crowdfunding platforms let you sell stock in yourself

New crowdfunding platforms let you sell stock in yourself | Decisions, complexity, visualisation | Scoop.it
It’s called a human capital contract, in which an individual raises money from investors in exchange for equity in herself. The idea is a bit unsettling. It sounds like either a modern version of indentured servitude, or the early version of some dystopian future in which every person is valued in dollars. In the science fiction novel The Unincorporated Man, every human is incorporated and most don’t own a majority of themselves. Their shareholders are their parents, the government, schools, corporations, and investors who bought their equity on the secondary market.

Via Berend de Jonge
Simon Gifford's insight:

Not sure if this is interesting or scary ..... Puts a whole new. Meaning on selling yourself!

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Sushil Pershad's curator insight, February 26, 2013 9:35 PM

As Long As #Righteousness Is Maintained In #Self Promotion!!

Lalita Krishna's comment, March 1, 2013 4:48 AM
No matter what business you are in if you are in front of people you are selling yourself.
Sushil Pershad's curator insight, March 1, 2013 7:10 AM

Yes:When You Are In Front Of People You Are Selling Yourself True But If You Maintain Righteousness Than Its A virtue!!

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What is systems thinking - part III

What is systems thinking - part III | Decisions, complexity, visualisation | Scoop.it

John Wenger


Via Viktor Markowski
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Viktor Markowski's curator insight, January 4, 2013 2:13 AM

In both of these cases, systems thinking forces us to look at the whole, not the individual parts.  It is the job of the modern manager to re-vision their function from one of “controller” to one of “steward”.  The focus is on purpose, values and meaning.  What does this business exist to achieve or create in the world?  What values will guide us in doing this?  How is this meaningful for the people who work here?  It is the role of managers to ensure that the correct conditions exist for these things to be realised, not to tell people what to do.

Sue Hickton's curator insight, April 14, 12:57 AM

"We must stop ourselves from repeating old mistakes and develop our abilities to think bigger so that we can go further.  Hand in hand with this, we need also to develop greater ease with the complexity we will see before us and greater confidence to deal with being a little less certain about things.  The effects of the system are there, whether we decide to look or not. "

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Cognitive Skills, Gender and Risk Preference Alison L. Booth and Pamela Katic - 201


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Alessandro Cerboni's curator insight, December 22, 2012 10:49 AM

In this paper we utilise data from a unique new birth‐cohort study to see how the risk preferences of young people are affected by cognitive skills and gender. We find that cognitive ability (measured by the percentile ranking for university entrance at age 18) has no effect on risk preferences measured at age 20. This is in contrast to experimental studies that use IQ measures to proxy cognitive skills. However we do find that gender matters. While young women are significantly more likely than young men to assess themselves as being prepared to take risks, women choose to invest significantly less when they are confronted with a clearly specified investment decision based on hypothetical lottery winnings. This difference between the impact of gender on risk attitudes and the hypothetical lottery investment suggests that impatience and framing affect young women and men differently.

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Capitalizing on Complexity 2010 IBM : Capitalizing on complexity

In a world fraught with uncertainty, what are today's CEOs doing to strengthen their situations against competitors?
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Mélanie Ciussi's comment, February 20, 2013 12:26 AM
Again a great study! To read absolutely!
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Learn to Read Causal Loop Diagrams

Learn to Read Causal Loop Diagrams | Decisions, complexity, visualisation | Scoop.it

Good post on systems thinking - essential to combatting complexity


Via Ides De Vos, Philippe Vallat
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Social Media Explained by Donuts

Social Media Explained by Donuts | Decisions, complexity, visualisation | Scoop.it

Funny and  useful


Via Joyce Valenza, Ann Vega, Kalani Kirk Hausman, Susan Davis Cushing, FastTFriend
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Shyam Sankar: The rise of human-computer cooperation | Video on TED.com

Brute computing force alone cannot resolve the worlds problems.
Great TED talk & very pertinent to decision making.

Via Robert, FastTFriend
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Many Simple Models over One Complicated Model

Many Simple Models over One Complicated Model | Decisions, complexity, visualisation | Scoop.it
I see it again and again. When they have invested time and energy in a model (tool, framework, method), people have a tendency to make their models more and more complicated. “Let’s add another dimension.” “Let’s deepen the domains.” “Let’s...
Via Eric Laurent, Philippe Vallat
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How Knowing a Foreign Language Can Improve Your Decisions: Scientific American

How Knowing a Foreign Language Can Improve Your Decisions: Scientific American | Decisions, complexity, visualisation | Scoop.it
Thinking in another language changes how people weigh their options...
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Behavioral Science Can Help Guide Policy - Economic View

Behavioral Science Can Help Guide Policy - Economic View | Decisions, complexity, visualisation | Scoop.it
When it comes to forming government policy, lawyers and economists have great influence. But in Britain, behavioral scientists are gaining a seat at the table, too.
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» Why Good People Lie - Channel N

» Why Good People Lie - Channel N | Decisions, complexity, visualisation | Scoop.it
Behavioural economist Dan Ariely, author of the new book The Honest Truth About Dishonesty, talks with Robert Wright about why most people lie.
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