In a world full of uncertainty, effective decision-making can be an extremely complicated task. Surprisingly, the complexity of making the right decision typically increases when decisions are made by groups. This session will provide attendees with examples of mistakes to avoid when making decisions in uncertain environments. We will talk about biases and fallacies that lead to these common mistakes and, more importantly, discuss different ways to create procedures that ensure we avoid falling into these traps.

This Community Partner Lecture is offered by Agustín Indaco, assistant teaching professor, economics at CMU-Q and is designed to equip participants with:

• Insights into factors that lead to common mistakes such as groupthink and planning fallacy
• Understanding how to properly evaluate decisions made in the past
• Strategies for creating processes that ensure that the best decision is made given the available data