Hersh Shefrin, long-time Santa Clara prof and father of Behavioral Finance, points out that Lopes’s SP/A theory explains why CEOs and risk professionals have so many “what are you talking about?” moments: … my research indicates that CEOs are the most hopeful of all groups, the most apt to set specified goals, and the most likely to try to achieve …
Note: Was Jesus Poor or not? (further)
Although Monday’s note argues that Jesus’ father was a respected craftsman, and that James, Jesus’ brother, was likely either himself a Pharisee or respected by them, there is some evidence that Jesus was bereft of personal resources when he died. The Gospel accounts have many accounts of Jesus being hosted by others, or being supported by them. His disciples are …
SP/A Theory and Operational Risk
Lopes developed the SP/A Theory framework about why people make certain choices when faced with risk. These are developed through empirical studies of undergraduates, including running commentary on why they are choosing one alternative vs another. It led to one of the key insights into why we take the chances we do, and why one person may have a thoroughly …
Note: Jesus Wasn’t Raised Poor
The ancient texts are always interesting, in part because you often discover that you’ve been reading them wrong. … Luke attests that “every year [Jesus’] parents went to Jerusalem for the festival of the Passover” (24:1)….. They were obviously a devout, Jewish family with the financial means to make the annual pilgrimage to Jerusalem, something few could afford. Bütz, Jeffery …
Does Risk Management Encourage the Abdication of Accountability by Managers?
“Managers should never be allowed to abdicate their management accountabilities and authorities by having HR do what is their job!” I learned this from management guru and past president of Forrest & Company, Nick Forrest (no relation) several years ago when I had the good fortune to work with him briefly. Why mention HR when in a discussion about Risk …
The hidden costs of unresolved grief in employees
Charles Dhanaraj and George Kohlrieser of the International Institute for Management Development recently addressed how executives’ unresolved grief can affect both their performance and that of the firm. A discussion.
Robbie Stamp on How Grief Feels
Grief, says Robbie Stamp in his TEDXLondon talk, “is like being thrown into a storm riven ocean.” Robbie as a person is broad and deep, and speaks about how grief is experienced.
What to say to the Grief-Stricken
What do you say to someone who is grief-stricken by a death? Here’s three things to say that actually mean something.
The Trauma of Unemployment
So, you lost your job. Maybe it really is a “killer job market”. Yet here you are, sending out more resumes, hitting “Apply” in the job website, making the rounds. And nothing seems to be working. You keep at it, but it’s getting tiring. Your spouse, originally so supportive, is asking how long this is going to take. “Mary lost …
Why We Talk Past Each Other at Work: The 7 Decision Languages
I recently sat through a meeting where the discussants, all intelligent people who care deeply about the work under discussion, argued deeply and long without much actually happening. You’ve been in these, too, and you’ve also been frustrated by how people don’t understand when you start talking about what we need to do. But I now don’t have to live …