What have we learnt from our mistakes?

The authors discuss the general steps involved in good decision making and use those steps to organize results from behavioral decision research, illustrating some of the challenges in making important choices. Framing effects, self serving biases, and context effects are a few of the errors and biases presented. The authors also discuss a variety of techniques for reducing biases and errors. The conclusion briefly outlines critiques of the biases and heuristics literature and provides examples of human cognitive strengths, while emphasizing the importance of learning from our mistakes.