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April Chapter Meeting - April 17th Print E-mail

Join us  for the April Chapter meeting

Should you trust your gut?

Human psychological weaknesses when making decisions in the face of uncertainty


Register Here

ABSTRACT: 

 

Evolution has prepared human beings very poorly for making decisions in an uncertain business environment.  Studies in social psychology by the likes of Daniel Kahneman, Amos Tversky, Richard Thaler, Dan Ariely, Cass Sunstein, and others have shown that much decision making is driven by emotions and biases – i.e., it is irrational in nature.  This has caused metaphorical earthquakes in the study of economics, much of which is grounded in the notion that people will make choices with whatever information they have at hand based on what is in their own best interest.  The rapidly rising field of Behavioral Economics puts forward the radical proposition that we should discover and model how people actually make decisions, rather than how we believe they ought to make decisions.


However, rather than simply accepting one’s irrationality, a good businessperson should at least attempt to mitigate these tendencies.  The first step toward improving one’s own decision making is to recognize one’s weaknesses as a human being.  This talk explores human psychological weaknesses when we try to make decisions in complex situations.  Topics covered include:

  • Risk aversion vs. loss aversion
  • The framing phenomenon

  • Logic vs. emotion vs. both

  • Seeking validation


 SPEAKER : Patrick Leach

 

 

Patrick Leach has over thirty years of experience in the energy industry, ranging from New Orleans to Indonesia, Scotland, and now Houston.  He joined Decision Strategies Inc. in 2004 as a Senior Consultant, and became CEO of the company in August of 2011.  He is the author of Why Can't You Just Give Me the Number? - An executive's guide to using probabilistic thinking to manage risk and to make better decisions.  He was also an SPE Distinguished Lecturer during 2012-2013.

 

Mr. Leach has a B. Sci. degree from the University of Rochester and an MBA from the University of Houston.  He is a Charter Fellow in the Society of Decision Professionals, and holds memberships in the American Association of Petroleum Geologists, Society of Petroleum Engineers, the Decision Analysis Affinity Group, and the Institute for Operations Research and Management Science.

 

 Meeting Food Sponsor : Procom Services

 Established in 1978, Procom Services is privately owned and operated, with revenues exceeding $600 million anually.  With 14 offices in North America and more than 6000 placements annually, Procom is committed to the highest standards of excellence in the provision of IT Staffing Services to it's clients, consultants and cadidates alike.  Procom specializes in contract staffing, permanent placement, and Payroll and contract administration services. 

 

This meeting is free

Meetings are 6:00 to 8:00pm (Networking 6:00 - 6:30pm)

Meeting Location

Sysco Corporation

1390 Enclave Parkway - Houston, Texas - 281-584-1390        

 

PARKING:  Please park in front of either Sysco building (1370 & 1390 Enclave Parkway). If front lots are full, park on the street along Forkland Drive and walk around to the front entrance of 1390. 

 

 

 
Meeting Format and Logistics Print E-mail

SyscoWelcome to ALN Houston’s meeting venue at Sysco Corporation, 1390 Enclave Parkway. 

 

Meetings are held the 3rd Thursday of each month unless otherwise noted on this site. Meeting format:

  • 6:00pm - 6:30pm - Network with your fellow Agile practitioners
  • 6:30pm - 8:00pm - Announcements and introductions, followed by our Featured Program

Parking Guidance:

Please park in front of either Sysco building (1370 & 1390 Enclave Parkway). If front lots are full, park on the street along Forkland Drive and walk around to the front entrance of 1390.

Also please help us speed check-in by registering for the meeting at least 24 hours in advance and your name will be on the pre-registered sign-in sheet along with a printed name tag (both are in first name, then last name sequence).

 

Come Join the Fun!

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