Experts develop deep domain knowledge that often allows them to exhibit a “sixth sense,” said ChicagoBooth professor James Schrager. … Strategy may be poised to be the next field revolutionized by the same concepts that have made behavioral economics and behavioral finance hotbeds of new ideas.
It all flows from University of Chicago PhD and Nobel laureate Herb Simon, who introduced the concept of bounded rationality that states that people don’t consider all alternatives as they decide most things, only a subset. The way we choose that subset is often the secret to how well–or poorly–our decision will turn out.
Simon indicated it took about ten years to be really good at something. Once there, you develop an “intuition” about how to make decisions. Simon believed these intuitions, although seemingly appearing from nowhere and often without conscious thought, are patterns you’ve previously learned. It is these patterns that can be of most use to strategists.
The Killer Angels
by Michael Shaara
Fabulous insight into the military mind, the minds of men, the minds of people dedicated to actions and ideals greater than themselves.
Kurt Vonnegut is said to have revealed the secret of fiction as, “Create characters the reader cares about, then do something terrible to them.” Mr. Shaara gives us a dozen characters worth caring about–from both armies–and then plunges them into one of the most terrible things to happen on American soil: the cataclysmic Battle of Gettysburg. The book is a model of storytelling, and beautifully written. My brother, who earned a Masters in American History just for the fun of it, warned me to (more…)