Decision Making improvement suggestions

Decision Making improvement suggestions - Decision Making:...

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Decision Making: Improvement Suggestions - The suggestion of “learning from mistakes” suggests decision making improves with experience - May apply for some people - Although experienced people may become overconfident and biased - Experience is not the same as expertise. .. the latter refers to recognizing biases and increasing rationality in decision making - Note that some biases are more resistant to change or training than others (hindsight bias is more resilient and harder to avoid than is overconfidence) - Hard to change biases because change suggests improvement in decision making - Individuals may feel that their decision making abilities are fine and do not need changing. .. or might be offended by the suggestion of change because it disturbs own self-esteem level - Another reason why individuals have difficulty learning from experience = the tendency to believe that what happens or happened to others will not apply to the self - View self as an “exception” in similar situations, terms
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