What I’ve been reading

Streetlights and Shadows by Gary Klein. A very interesting, well-written discussion of how decisions are made well and badly. Klein lists a number of apparently-obvious truths, eg “We can reduce uncertainty by gathering more information” and “The starting point for any project is to get a clear description of the goal” and argues that they are often false.

More specifically, such statements tend to be true in “streetlights” – simple, static situations but not in “shadows” – complex, fast-moving or unexpected situations. Lots of memorable case studies. Recommended.

The Undercover Economist: a guide

Publishing schedule: Excerpts from "The Undercover Economist" and "Dear Economist", Tim's weekly columns for the FT Magazine, are published on this blog on Saturday mornings.
More about Tim: Tim also writes editorials for the FT, presents Radio 4's More or Less and is the author of "The Undercover Economist" and "The Logic of Life".
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