Often, leaders are taught to think of things in the long-term, but if we are to follow the findings of behavioral economics, we must understand that decisions are made impulsively at times, and are based on current emotions.As a leader, it is important to recognize when your teammates engage in this type of behavior, and foster in them a risk-taking attitude. It is your job to navigate your followers along the right way, and help them understand the difference between a dynamic move and a pointless gamble.
Link to the article:
The order in which people experience things affects their opinion of them: they tend to like the first option best. This is the result of a new study by Dana Carney of Berkeley’s Haas School of Business and Mahzarin Banaji of Harvard University.
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