Book Description

A practical guide to making better decisions in all aspects of life, based on extensive research and a wide range of historic and current examples. Combining clearly communicated research-based principles, a wealth of practical advice, and dozens of historic and contemporary examples of decision making (good and bad), Patrick Gould's Prudent Decision Making in an Imprudent World: Better Decisions at Home and Work gives readers a fresh new way to look at the way we make choices. What makes Gould's book both authoritative and compelling is its distinctive foundation—prospect theory—derived from Amos Tversky and Nobel laureate Daniel Kahneman's landmark research on "neuro-economic" decision making. Through the prism of prospect theory—which explains why people make conservative decisions in some instances and reckless decisions in others—Gould provides practical pathways to sound, timely judgments about relationships, family matters, careers, finances, and more. Time and again, throughout this concise but richly rewarding book, Gould demonstrates that understanding how and why people make choices is the first step toward making the best possible choices for ourselves.