The Rational Reminder Podcast | Prof. Ralph Keeney: Decision Analysis and Value-focused Thinking | Rational Reminder 238 @rationalreminder | Uploaded February 2023 | Updated October 2024, 19 hours ago.
A large portion of what we talk about on this show boils down to decision-making, and today we have our focus squarely on the fundamentals of this process. Professor Ralph Keeney joins us to discuss some of the simplest and most profound elements of decisions, and why we so often miss these aspects. Ralph is a true expert on decision analysis, and his systematic process for decision-making, as laid out in his new book, Give Yourself a Nudge, has truly life-altering potential for anyone looking to improve their future. The book and this conversation are jam-packed with insightful and understandable ideas and examples, including clarifying objectives, the vital role of our values, generating alternatives, and a comparison between decision problems and decision opportunities. Ralph lays out a great way to get started on the path to better decisions, so make sure to join us to hear it all.
Timestamps:
0:00 Intro
6:16 How to articulate the importance of thoughtful decision making
8:49 How to decide whether a decision is worth optimizing
12:15 How people typically make decisions
13:36 Shortcomings people typically have when making decisions
14:58 How people can learn to be better decision makers
20:04 The "neglected front end" of decision making
25:15 Value-focused decision making processes
27:25 The steps in making a value-focused decision
32:27 How to define the decision you want to make
41:07 How values translate into objectives
49:27 Common pitfalls in generating alternatives
52:20 Processes to successfully generate alternatives
59:41 Decision problems vs decision opportunities
1:04:58 Converting decision problems into decision opportunities
1:08:34 How to learn to apply these concepts when making decisions
1:12:47 The role an outside perspective can play in making good decisions
1:21:14 Ralph defines success in his life
Participate in our 23 in 23 Reading Challenge:
23 in 23 Reading Challenge — rationalreminder.ca/23in23
23 in 23 Reading Challenge on Beanstalk — pwlcapital.beanstack.org
Participate in our Community Discussion about this Episode:
community.rationalreminder.ca/t/episode-238-prof-ralph-keeney-decision-analysis-and-value-focused-thinking-discussion-thread/21795
Books From Today’s Episode:
Give Yourself a Nudge — amzn.to/3WKMwZx
Smart Choices — amzn.to/3Ho0vP6
Value-Focused Thinking — amzn.to/3HgC7yH
Decisions with Multiple Objectives — amzn.to/3DywYRH
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Shop Merch — shop.rationalreminder.ca
Join the Community — community.rationalreminder.ca
Follow us on Twitter — twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron on Twitter — twitter.com/CameronPassmore
Prof. Ralph Keeney — ralphkeeney.com
A large portion of what we talk about on this show boils down to decision-making, and today we have our focus squarely on the fundamentals of this process. Professor Ralph Keeney joins us to discuss some of the simplest and most profound elements of decisions, and why we so often miss these aspects. Ralph is a true expert on decision analysis, and his systematic process for decision-making, as laid out in his new book, Give Yourself a Nudge, has truly life-altering potential for anyone looking to improve their future. The book and this conversation are jam-packed with insightful and understandable ideas and examples, including clarifying objectives, the vital role of our values, generating alternatives, and a comparison between decision problems and decision opportunities. Ralph lays out a great way to get started on the path to better decisions, so make sure to join us to hear it all.
Timestamps:
0:00 Intro
6:16 How to articulate the importance of thoughtful decision making
8:49 How to decide whether a decision is worth optimizing
12:15 How people typically make decisions
13:36 Shortcomings people typically have when making decisions
14:58 How people can learn to be better decision makers
20:04 The "neglected front end" of decision making
25:15 Value-focused decision making processes
27:25 The steps in making a value-focused decision
32:27 How to define the decision you want to make
41:07 How values translate into objectives
49:27 Common pitfalls in generating alternatives
52:20 Processes to successfully generate alternatives
59:41 Decision problems vs decision opportunities
1:04:58 Converting decision problems into decision opportunities
1:08:34 How to learn to apply these concepts when making decisions
1:12:47 The role an outside perspective can play in making good decisions
1:21:14 Ralph defines success in his life
Participate in our 23 in 23 Reading Challenge:
23 in 23 Reading Challenge — rationalreminder.ca/23in23
23 in 23 Reading Challenge on Beanstalk — pwlcapital.beanstack.org
Participate in our Community Discussion about this Episode:
community.rationalreminder.ca/t/episode-238-prof-ralph-keeney-decision-analysis-and-value-focused-thinking-discussion-thread/21795
Books From Today’s Episode:
Give Yourself a Nudge — amzn.to/3WKMwZx
Smart Choices — amzn.to/3Ho0vP6
Value-Focused Thinking — amzn.to/3HgC7yH
Decisions with Multiple Objectives — amzn.to/3DywYRH
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Shop Merch — shop.rationalreminder.ca
Join the Community — community.rationalreminder.ca
Follow us on Twitter — twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron on Twitter — twitter.com/CameronPassmore
Prof. Ralph Keeney — ralphkeeney.com
