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Think Twice: Harnessing the Power of Counterintuition

think twice

At a surgery conference, doctors were polled on two treatment options for a hypothetical patient. The vast majority voted for a newer procedure that is more complicated but yields higher payment. But when the surgeons were asked, “What if this patient is your wife?” the results reversed. It’s a stark example of the power of inappropriate incentives, and as Michael Mauboussin, chief investment strategist at Legg Mason Capital Management, notes in Think Twice, just one of the many reasons smart people make stupid decisions. (Another: We tend to be hyperoptimistic pattern seekers hungry for control.) Peppered with research, case studies, and a smidge of self-help talk, the book makes an engaging case for going against your gut. — KR

tue, october 13

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Think Twice: Harnessing the Power of Counterintuition
By Michael J. Mauboussin

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