Smart Choices: A Practical Guide to Making Better Decisions

Review:

Have you ever hired someone only to regret your decision two months later? Or looked at your financial portfolio and wondered why you bought the stocks you did? In Smart Choices, authors John S. Hammond, Ralph L. Keeney, and Howard Raiffa take the guesswork out of the decision-making process and offer a systematic approach to making the right choice. Most of us have problems making decisions, because we've never learned how. The authors write:

Despite the importance of decision making to our lives, few of us ever receive any training in it. So we are left to learn from experience. But experience is a costly, inefficient teacher that teaches us bad habits along with good ones. Because decision situations vary so markedly, the experience of making one important decision often seems of little use when facing the next.

Smart Choices outlines eight elements involved in making the right decision, from identifying exactly what the decision is and specifying your objectives to considering risk tolerance and looking at how what you decide on today influences what you may decide in the future. The book is full of real-life situations and scenarios that effectively illustrate each element of a good decision. If you think the topic of making the right choice is mundane or a simple matter of common sense, then think again. Smart Choices will relieve you of the regret that so many of us carry because we didn't know how to "think it through." --Harry C. Edwards

From the Back Cover:

"In Smart Choices, John Hammond, Ralph Keeney, and Howard Raiffa tell us in plain language how to make optimal decisions in our everyday lives. They combine one hundred collective years of experience in an exceptional resource that takes the reader step-by-step through problem formulation and final decision." –Jerome P. Kassirer, editor-in-chief, New England Journal of Medicine

"Throughout Smart Choices, Hammond, Keeney, and Raiffa provide valuable insight and guidance on the inevitable and ongoing negotiation with yourself when facing a difficult decision. By following their effective, systematic process, anyone can make important personal or business decisions with greater clarity, confidence, and efficiency." –Stephen J. Hemsley, former head of Strategy, Technology, and Operating Professional Service Lines, Arthur Andersen

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