Phil Rosenzweig on Leadership, Decisions, and Behavioral Economics

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4.7 • 4.4K Ratings

🗓️ 13 April 2015

⏱️ 62 minutes

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Summary

Phil Rosenzweig, professor of strategy and international business at IMD in Switzerland and author of the book Left Brain, Right Stuff: How Leaders Make Winning Decisions talks with EconTalk host Russ Roberts about his book. The focus of the conversation is on the lessons from behavioral economics--when do those lessons inform and when do they mislead when applied to real-world business decisions. Topics discussed include overconfidence, transparency, the winner's curse, evaluating leaders, and the role of experimental findings in thinking about decision-making.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.2	back to 2006.
0:25.4	Our email address is mailadycontalk.org.
0:27.4	We'd love to hear from you.
0:29.4	Today is March 18, 2015, and my guest is Phil Rosenswig, Professor of Strategy and International
0:38.8	Business at IMD in Switzerland.
0:41.8	He is the author of Left Brain Write Stuff, How Leaders Make Winning Decisions.
0:46.6	Phil, welcome to Econ Talk.
0:48.6	Thank you.
0:49.6	Good to be with you.
0:50.6	The perspective, we're going to talk about your book today and the general issue of how
0:54.0	do you make wise and good decisions.
0:58.4	The framework of your book is that many of the experimental results that we often hear
1:04.3	about relative to decision making are incomplete or not completely useful for real-world decision-making.
1:13.4	Give us an overview of that literature and mainly behavioral economics and why it's, what
1:20.0	is it missing?
1:22.0	Okay.
1:23.0	Well, first of all, good to be with you.
	...

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