Posted on 27/10/09
Think twice: So easy to say, so difficult to do
Just after handing in the manuscript of his latest book, Think Twice: Harnessing the Power of Counterintuition, Michael Mauboussin and his family had a single bad experience with the service at an otherwise fine Manhattan restaurant. His wife, Michelle, vowed never to return. It was a reaction based on instinct and the typical belief that the future would unfold like the past. For her husband, one of the more cerebral of market strategists, it was a personal example of why smart people keep making bad decisions, the very subject of his book. In reality, that restaurant will probably do better next time, while the eatery that had a good day is more likely to have a bad one at some point.
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