ABSTRACT
This chapter provides some practical advice that can be used in the world outside the psychology laboratory. In the context of managerial and executive decision making, many disastrous decisions made by executives can be traced as 'delusional optimism', which results from taking an overly inside view of forecasting. Considering three approaches in improving or debiasing decision making, that can be loosely grouped under the headings individual, cultural and tools or resources. The chapter considers the probabilistic nature of the world which makes such predictions difficult. There are myriad ways in which individual decision making can divert from the straight and narrow road. The final 'cognitive repair' will be considered is closely related to the mechanisms underlying some of the emotional effects that were reviewed in. Decision Support Systems are very explicit tools designed to help us improve our decision making.
