Date of this Version
Advances in Decision Analysis: From Foundations to Applications
The authors discuss the steps involved in good decision making and use those steps to organize results from behavioral decision research. Framing effects, self serving biases, and context effects are a few of the many errors and biases that are presented. The authors also discuss techniques for reducing errors. They conclude by providing examples of human cognitive strengths, while emphasizing the importance of learning from our mistakes.
This material has been published in Advances in Decision Analysis: From Foundations to Applications edited by Edwards, W., Miles Jr., R.F., & von Winterfeldt, D. This version is free to view and download for personal use only. Not for re-distribution, re-sale or use in derivative works. ©2007 Cambridge University Press.
Mellers, B., & Locke, C. (2007). What Have We Learned from Our Mistakes?. Advances in Decision Analysis: From Foundations to Applications, 351-374. http://dx.doi.org/10.1017/CBO9780511611308.019
Date Posted: 15 June 2018