Prudent Decision Making in an Imprudent World - by Patrick Gould (Hardcover)

About the Book

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.

• Includes chapters on personal and business decision making, as well as financial decision-making
• Provides dozens of features on historic events affected by bad decision making, such as the 1929 stock market crash, the Challenger disaster, and the implosion of Enron

Book Synopsis

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.

Review Quotes

"Gould is a retired US Marine officer and former educational researcher at the U. of Wisconsin, and he employs historical examples, researchbased principles and practical advice to help general readers identify and avoid bad decision-making skills. The author uses examples such as Napoleon's winter attack on Russia and the 1929 stock market crash to explain how qualities such as humility, self-discipline and critical analysis are instrumental to effective decision-making skills. Each chapter defines prudent decision-making skills in such specific realms as education, security and creativity." --Reference & Research Book News

"Prudent Decision Making reads more like thoughtful and critical analysis of decision-making than it does a guidebook or manua . . . While the book posits many conclusions that are already well established in the field of behavioral theory, the applications the author provides give life to the raw philosophy. Gould provides a chance for any decision-maker to reach better conclusions on a consistent basis." --Advisor Perspectives

About the Author