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How to make stress your friend - Psychologist Kelly McGonigal urges us to see stress as a positive, and introduces us to an unsung mechanism for stress reduction: reaching out to others (TEDTalks 14:28) |
Nobel prize winning author Daniel Kahneman explores how humans make decisions.
The library has the book and audiobook.
Some Key Points:
System 1: Thinking Fast - Automatic, Intuitive, Some Involuntary, Learned Associations & Abilities Based on Priming (experience, exposure to ideas, physiological needs, environment)
Decision making based on System 1 "intuitive" agents and mental short cuts (heuristics) lead to quick judgements that may be sound and expedient but run the risk of interference from biases. It looks for patterns and familiar things. Challenges to this kind of intuitive/fast thinking can be met with attempts to tell a "story" to explain the decision.
System 2: Thinking Slow - Rational, Methodical, Require Focus & Mental Energy
Decision making based on System 2 "rational" thinking is slower and requires focus that may block out other stimuli. It gives the ability to consider options, employ self-control, and overcome biases and mental short cuts. It looks for things that stand out or don't fit.
1. Availability: Likelihood of an outcome based on how easily similar instances of that outcome come to mind and how recently the examples occurred.
2. Representativeness: Basing the probability that X is a Y based on how much they resemble each other (stereotyping) rather than on evidence or analysis.
3. Anchoring: Occurs when an answer or decision is arrived at based on previously known or assumed information rather than independently of outside influence.
4. Regression to the Mean: Human performance has natural fluctuations from unusual (good or bad) followed by less noteworthy outcomes, but system 1 tries to tie these changes to the application of criticism or punishment.
5. Overconfidence: Actors who are confident are better able to secure support in the face of risk aversion.
-Intuitive expertise: True experts can have intuitive immediate expert response but only if they have experienced learning with an immediate feedback loop (work where they can immediately see the positive or negative response to their actions)
- Narrative Fallacy/Outcome Bias: Incomplete or altered "story" of a past decision based on a positive outcome. Can lead to overconfidence in the ability to predict outcomes based on intuition alone.
6. Utility: Experienced Utility (quality of pleasure vs. pain from choice) vs. Decision Utility (preference between options) vs. Predicted Utility (what they think they will feel about a choice, often predicted as more extreme than actual outcome)
7. Choice Architecture: People need society to frame choices to promote better outcomes for the group and individual.
Additional Summary:
Videos:
Articles:
Related Readings (the library has all of these, some also in audiobook):