Thinking Err0rs

The show 60 minutes had a provocative piece on the use of fMRI to read thoughts.
The show was misleading.

Strangely, trying to remember more numbers decreases our self control. We now know why. Our prefrontal cortex, crucial to our rational decision making, can only hold a small amount of information. It roughly can hold seven plus or minus two “items” at the same time. The result: when our rational brain is busy remembering numbers, it is less able to control our emotions. We go for the fattening piece of cake.

Where does this leave us, in practical terms? While it now appears that the rational/emotional competition is an oversimplification of our decision making process, it is still a useful metaphor for improved decision making.

Businesses use biological metaphors: ecosystems, survival of the fittest, etc. The latest application of biology to business is far more than a metaphor. Brain science is teaching us how we are wired to make decisions. This knowledge is only beginning to be applied to how businesses carry out their information processing and decision making. This [...]