When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most important decisions business or project owners may ever have to make. Persistence involves the risk of throwing good money (or resources) after bad, but owners may feel they have too much invested to quit now. Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their losses – a phenomenon known as escalation of commitment. The authors, Helga Drummond and Julia Hodgson, also introduce the concept of entrapment, a variation whereby decision-makers passively drift towards insolvency as the cost of changing direction becomes too high. So: · what drives escalation? · why do some owners quit whilst others persist until the bailiffs arrive? · what can we learn from owners' mistakes? · what makes newcomers believe they can succeed where others are conspicuously failing? These questions of behavioural economics are answered using a narrative that analyses decisions made by market traders facing economic extinction. Many highly successful entrepreneurs started their careers in markets - it was once an almost guaranteed route to prosperity - now market traders are struggling to survive. Although the market traders featured are small entrepreneurs, the ubiquitous phenomenon of escalation at the heart of these stories is widely relevant to practitioners such as project managers in large organizations and to those responsible for managing risk in many situations. Rich in case studies involving real business decisions and dilemmas, Escalation in Decision-Making provides an accessible introduction to the application of theory against a background of growing interest in behavioural economics, now being researched and taught in universities and increasingly attracting the attention of business practitioners.
The Secret Life of Decisions exposes the unchallenged myths and distortions that impact our reasoning ability, raising our awareness of the many traps we can fall into. Meena Thuraisingham and her collaborator, Wolfgang Lehmacher, have drawn from decades of work with leaders showing that even the most talented leaders and teams can end up making sub-optimal decisions. This is rarely because they had poor critical thinking faculties but rather because they did not pay enough attention to the often invisible traps hardwired into our thinking processes, letting through only information that conforms with our current beliefs, mental models and expectations. This leaves many leaders and businesses exposed. This book is an essential read for developing and seasoned executives who have to work through high stakes decisions. It treats choosing wisely and the thinking involved as a skill that can be improved with the guided practice and supporting tools provided here. The journey however starts with awareness that comes from outing the ‘secret’ forces that can sabotage the quality of our decisions.
Get off the diet roller coaster, and empower yourself to change your relationship with food. Julieanna Hever, also known as the Plant-Based Dietitian, has helped thousands of people lose weight and achieve optimal health by following a plant-based diet. In The Choose You Now Diet, Julieanna condenses the experience she has accumulated over 15 years into 10 easy-to-follow tenets for lasting weight loss and health gains. Instead of counting calories, her joyful approach to eating embraces the health benefits of a whole-food, plant-based diet: one that's focused on vegetables, fruits, whole grains, legumes, mushrooms, nuts, seeds, herbs, and spices. Her low-sugar, plant-based method combined with strategic time-restricted eating and mindfulness techniques has a proven record of success. As Julieanna likes to say, "Results are typical." Supported by 75 delicious, plant-based recipes, The Choose You Now Diet provides the information and motivation you need to drop your extra pounds—and change your relationship with food for good. "A book for our times written by a teacher and dietitian for our times. Choose to read this book now, and you will choose healthy and delicious eating for a lifetime."—Michael Klaper, MD, author of Vegan Nutrition: Pure and Simple “I can personally attest that Julieanna makes nutritious taste delicious and this book outlines the perfect way to enjoy tasty food and achieve your goals.”—Michael Greger, MD, author of How Not to Die “The Choose You Now Diet is the ultimate master class for plant-based living."―Laura Theodore, award-winning chef and author of Vegan for Everyone “This book comes at an important time. When societal and digital distractions routinely pull us away from caring for ourselves, The Choose You Now Diet guides us back to healthy weight and wellness."―Dreena Burton, author of Eat, Drink, & Be Vegan
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