Human Biases in Decision Making

McCombs School of Business

How long?

  • 2 days
  • online

McCombs School of Business

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About the course

Understand the ways in which your mind, personality, and social structures can degrade your decision-making.

The human mind isn’t wired to make high-quality decisions. Because of how our minds work, errors and pitfalls keep us and our colleagues from making decisions that add the most value. Understand how natural behavioral processes lead to biases, distortion and mistakes. Explore the preventive measures and techniques you can use to reduce these biases, improve individual decisions and enrich organizational decision processes.

Strategic Decision and Risk Management

Clarify problems, explore available options, develop a structured framework, understand the impact, and commit to your choice.

Two Day Concentrated Program

Registration begins at 8:00 a.m. and class runs 8:30 – 4:30 both days with a one-hour networking lunch included.

Strategic Decision Professionals

Our partnership with SDG combines UT's academic research and SDG's real-world experience in decision consulting to create an unmatched learning experience.

Benefits

  • Discover six categories of biases that produce most of the mistakes in decision making
  • Discuss how overconfidence, confirmation bias and hindsight bias can keep us from seeking critical information and making realistic judgments
  • Understand the limiting effects of unconscious self-serving biases in yourself and others
  • Examine five types of associations we use to make judgments which can be misleading
  • Recognize the distortions created by relative comparisons and simplification
  • Anticipate how capacity on perception, attention, memory, reasoning and choice influence our decisions
  • Balance conflict and cooperation to minimize the negative effects and increase the positive influences of group dynamics
  • Develop a personal action plan for counteracting natural decision problems and reducing the impact of negative decision behaviors in your organization

Experts

Art Markman

Annabel Irion Worsham Centennial Professor of Psychology and Marketing , Department of Psychology Ph.D, University of Illinois BS, Brown University Dr. Art Markman is the Annabel Irion Worsham Centennial Professor of Psychology and Marketing at the University of Texas at Austin. He is also ...

Raghunath Rao

Associate Professor, Marketing, McCombs School of Business PhD, Business Administration, University of Minnesota MS, Applied Economics, University of Minnesota Raghunath Singh Rao is an Associate Professor affiliated with McCombs School of Business at the University of Texas at Austin. His ...

Jennifer Meyer

PhD, Operations Research, Stanford University, 1989 MS, Operations Research, Stanford University, 1986 BA, Mathematics and Physics, Drake University, 1984 Dr. Jennifer Meyer is Senior Engagement Manger at Strategic Decisions Group and has over 25 years of experience as an educator and strategy...

Carl Spetzler

Carl Spetzler PhD is an author, speaker, and consultant on business decision making. He specializes in strategy development, business innovation, and strategic change management, and has directed the development of innovative business strategies in many diverse organizations, such as capital-inte...

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Human Biases in Decision Making at McCombs School of Business

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