Alumni

Strategic Management Practices Issues Group: Decision Making in Uncertain Times

U.S. Trust

Chicago Booth Alumni Club of Chicago

September 17, 2010: 7:30 AM - 8:45 AM

Please join us on Friday morning, September 17, to share your reactions to the ideas presented in these references. Our host will provide the coffee, but we count on you to bring the requisite conversational energy. We meet from 7:30 to 8:45 AM at U.S. Trust in the Chicago Loop. Start your Friday morning by updating your MBA, interacting with fellow Booth alums, expanding your professional network - and still make it to the office by 9AM.

Where

U.S. Trust
231 South LaSalle
Chicago, Illinois

Event Details

It appears that we are living in a time of great uncertainty, but our responsibilities to make decisions have not changed. It seems a perfect time to look for relevant frameworks, for some references on how to look at the problems that surround us, and for precedents on how to take action. Daniel Kahneman and Amos Tversky, whose work forms much of the basis of behavioral economic theory, won the Nobel Prize for a concept that has become known as prospect theory. You can read a summary of their work at http://prospect-theory.behaviouralfinance.net/. This will provide good background for those who are not already familiar with their writings. To prepare for this month’s discussion, please review the following: Managerial Decision Making Under Risk and Uncertainty http://www.iaeng.org/IJCS/issues_v32/issue_4/IJCS_32_4_12.pdf Michael Hastings’ recent interview with General Stanley McChrystal in Rolling Stone, “The Runaway General” http://www.rollingstone.com/politics/news/17390/119236 And finally, an excellent discussion between Nassim Taleb, author of The Black Swan, and Daniel Kahneman entitled, “Reflection on a Crisis.” http://fora.tv/2009/01/27/Nassim_Taleb_and_Daniel_Kahneman_Reflection_on_a_Crisis This video runs about an hour in its entirety.

Cost

No Charge

Registration

Register Online
You must register online by 5:00 PM on September 15th to attend this event. A current e-mail address and phone number will be required. Please arrive early enough to allow time to clear building security on the morning of the discussion. If your plans change, please notify us as soon as possible so that we can offer your seat to someone else. Attendance is limited to 20 persons.

Deadline: 9/15/2010

Questions

Bob Rieder, '06 

847.826.0208