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wherever you get your podcasts. Welcome to the HPR Ideacast from Harvard Business Review.

I'm Justin Fox and I'm talking today with Frank Partnoy,

a professor of law and finance at the University of San Diego,

and author of Weight, the Art and Science of Delay.

Frank, welcome to Ideacast.

Thanks so much, Justin.

So first of all, you're a former derivatives trader

whose past writing has been about the workings of the

financial system in its history. Where did this book idea come from? It came out of the

financial crisis when I looked at how banks were collapsing and it made such spectacularly bad decisions

and then how regulators came in and made equally bad snap decisions I decided to take a step

back and try to understand not just the details of the crisis, but what

the change in decision-making had been.

And in my research, I found a story about Lehman Brothers, that Lehman in 2005 had created a decision-making course

that they had tried to understand the details of their own decision-making.

They had brought in famous psychologists. They had

custom designed implicit association tests to look at their own biases. They had

...