Inside Human Decision-Making: Dr. Baruch Fischhoff Explains the Psychology of Choice

Dr. Baruch Fischhoff, Howard Heinz University Professor in the Department of Engineering and Public Policy and the Institute for Strategy & Technology at Carnegie Mellon University, joins us to share key insights from his influential book, “Decisions: Studying and Supporting People Facing Hard Choices.” In this conversation, Dr. Baruch Fischhoff unpacks why hard decisions feel so overwhelming, highlighting the roles of uncertainty, complexity, and the limits of our own expertise. Drawing on decades of research, he explains how biases like hindsight and outcome bias distort how we remember and evaluate our choices, why understanding people’s mental models is essential for good risk communication, and what his work reveals about adolescent decision-making competence. He also shares practical guidance for supporting better decisions in high-stakes settings from public agencies to everyday life while emphasizing ethical, person-centered approaches to decision support. This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com. Disclaimer: A. The background music used in this video is the property of its respective developer and is protected by Copyright. Although it is a free version, Business Talk, Global Management Consultancy and Deepak Bhatt do not hold the rights to this music. B. Dr. Baruch Fischhoff shared insightful perspectives from his acclaimed book, “Decisions: Studying and Supporting People Facing Hard Choices,” during his conversation on the Business Talk podcast channel. The uploaded video contains copyrighted material; therefore, any modifications to graphics, music, or the presence of the author or host are strictly prohibited.