I can’t believe it’s been 14 years since I started doing the ‘Summer Reading List for Business Leaders” at the University of Maryland’s Robert H. Smith School of Business. It is a really fun project that I enjoy doing each spring, and it’s typically our most read website story of the year.
I send out a call for recommendations at the beginning of May and give faculty members and administrators about a month to submit their suggestions, which include a short review about the book stating why they recommend it.
I particularly like this year’s list, even though I’ve only read one of the books so far:
I personally recommend The Undoing Project by Michael Lewis. The author gives great insight into how we make decisions as he tells the story of two trailblazing psychologists: Daniel Kahneman and Amos Tversky. For example, you’re playing roulette and it’s hit black 10 times in a row, you think: red has to come up next, right? Nope. Probabilities don’t change according to past results… Bayes’ Theorem / Gambler’s Fallacy / Law of Small Numbers. Learn about cognitive biases: the Anchoring Effect, Framing, Overconfidence Bias, Regression to the Mean, and the Halo Effect. Very interesting!