Latest articles from Peter Westberg
Neglect of Probability: A Hidden Risk in Decision Making
The concept of "probability" should take center stage in our decision-making processes.
Availability Heuristic Explained
Have you ever made a judgment about the frequency of an event based on how easily you can recall examples? If so, you've experienced the availability heuristic at work.
Take-Two Interactive: Rising to Power in Gaming Through Strategic Acquisitions
In the dynamic world of video game publishing, Take-Two Interactive has carved out a unique and powerful position.
Disney's Most Notable Acquisitions Since Inception and the Streaming War Against Netflix
Even though The Walt Disney Company was established already in 1923, many of the franchises and brands have been acquired during the last couple of decades.
Danaher Business System and Acquisition History
Since the early 1990s, Danaher's management team has transformed a group of under-performing industrial manufacturing companies into a global powerhouse in life sciences and diagnostics.
Amazon's Writing Culture Explained
Amazon's founder, Jeff Bezos, has been an avid reader since childhood. He asserts that reading and writing have played pivotal roles in his personal development, particularly in the domains of entrepreneurship and business building, encompassing all that these fields entail.
Understanding the Halo Effect
The Halo Effect is a cognitive bias where our overall impression of a person, company, or product influences how we feel and think about their character or properties.
Understanding the Influence of Authority Bias
In a world where expertise and titles often dictate our decisions, understanding authority bias is crucial.
Survivorship Bias: The Hidden Side of Success
In a world where success stories often dominate headlines, it's crucial to understand the concept of 'Survivorship Bias'. This cognitive bias can lead us to draw incomplete or incorrect conclusions
Dunning-Kruger Effect: Overconfidence in Incompetence
In the realm of psychology, few concepts have garnered as much attention as the Dunning-Kruger Effect.
How Loss Aversion Shapes Our Choices
In the intricate world of human psychology, certain phenomena have a profound impact on our decision-making processes. One such phenomenon is loss aversion.
Action Bias: Understanding the Drive to Act
In today's fast-paced world, the term "Action Bias" has become increasingly significant. This cognitive bias, often intertwined with phrases like "bias for action" and "bias towards action," refers to the inclination of individuals or organizations to favor action over inaction, especially in decision-making processes.
Cognitive Dissonance: Understanding the Inner Conflict
In the landscape of psychological phenomena, cognitive dissonance stands out as a particularly intriguing cognitive bias.
Incentive-Caused Bias and The Principal-Agent Problem
Incentive-caused bias is a term that doesn't often make headlines, yet it silently shapes decisions, behaviors, and outcomes across various facets of our lives.
Understanding Status Quo Bias
What is status quo bias exactly? At its core, the definition of this cognitive bias boils down to our irrational preference for the current state of affairs—the tendency to want things to stay the same.