Τhe 9 most dangerous Traps in Decision-Making for Leadership Teams

1. The anchoring trap : disproportionate weight is given to the first or the last piece of info

2. The status quo trap : bias towards maintaining the current situation

3. The sunk-cost trap : perpetuate mistakes of the past because of investments involved

4. The confirming evidence trap : seeking info selectively to support an existing view

5. The overconfidence trap : overestimating the accuracy of our forecasts

6. The framing trap : when our decision gives a solution to the wrong question

7. The Prudence trap : being overcautious when estimating uncertain factors

8. The fragmentation trap : when suppressed disagreement with superiors / peers hinders effective analysis & objectivity

9. The groupthink trap : when a group – in which teamwork is very strong or very weak – suppresses ideas which do not support the general direction towards the group is moving

Based on : Keeney & Raiffa, HBR 1998