Bosses, biases and bad decisions

04/22/2013 | McKinsey Quarterly (free registration)

Everyone has an array of cognitive biases that make it harder for them to make well-reasoned decisions, says McKinsey's Olivier Sibony. New decision-making techniques can help offset those biases, but bosses tend to be unwilling to accept the need. "[T]he further up the hierarchy you go, the harder it becomes to say, 'My judgment is fallible,' " Sibony says. "... Recognizing uncertainty and doubt -- it's not the style many executives have when they get to the top."

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