vPREFACE

PREFACEAs the world has become more complex and information more abundant, decisionshave become more difficult; as the pace of change and the range of choice have increased,decisions have to be made more often. Yet, most of us still make decisions with no moreknowledge about decision processes than our ancestors had in a simpler age, hundreds ofyears ago.Thanks to mathematicians, economists, psychologists, and decision analysts, we nowknow a good deal about decision making. We know something about what constitute gooddecision processes, and we know that good decision processes tend to lead to goodoutcomes. For example, those who employ good decision processes tend to get highergrades and earn higher salaries (Larrick, Nisbett, & Morgan, 1993); and, when decisionmakers' judgments are incorporated into decision models, the models tend to outperformthe decision makers, themselves (Dawes, 1979, 1989).One study (Herek, Janis, & Huth, 1987) evaluated major decisions made by the UnitedStates government over several years. For each decision, independent ratings were madeof (a) the quality of the decision process and (b) the extent to which U. S. objectives weremet. The correlation between these two measures was a whopping +.63! (This is betterthan the correlation between the heights of parents and the heights of their children.) Thisindicates that, even at the level of governmental decisions, where so many things can gowrong, good decision processes are strongly related to good decision outcomes.We also know that good decision processes can be learned, and we know somethingabout how to teach them. For example, economics professors and students, who haveformal training in decision making, are more likely than others to decide rationally, even

when the decisions are not closely related to the content of economics courses (Larrick,Morgan, & Nisbett, 1990). (See also Whimby & Whimby, 1975).Yet we are not communicating what we know as effectively as we might. At thecollege level, courses in decision psychology are typically focussed on the presentation ofresearch findings and theoretical explanations of these findings, providing, essentially,declarative, or factual, knowledge. Instruction in good decision-making practice isancillary, at best, and actual practice in decision-making skills, rare in such courses. Whilecourses of this kind are necessary, they aren't sufficient. Only the exceptional student canpass from declarative knowledge to procedural, or performance, knowledge without help.We need another kind of course, both for the students who take the courses that focuson declarative knowledge and for those who don't. Such a course should provide for