Pause to Think

Are you fan of Daniel Kahneman, Dan Ariely, or Richard Thaler? Have you enjoyed books like Fooled by Randomness, Factfulness, or Thinking in Bets? If so, you may want to read Jaime Lester’s new book, Pause to Think, about cognitive biases. Jaime’s concise book is engaging, memorable, and accessible. It features over thirty mental and conceptual models. This discussion explores some of these concepts, including fast and slow thinking, sunk costs, satisfaction, and randomness.

Episode Highlights

The difference between mental models, conceptual models, and frameworks.
The message for those saying, “But I’ve already read … “
Jaime’s fascination with mental models and why he wrote the book.
A heightened sense of awareness of fast and slow thinking.
Mark’s high five of the book’s 3S framework.
The reason the humanities are possibly underrated.
Everyone suffers from sunk cost fallacies.
The problem with ignoring opportunity costs.
A short trip down random variation.
Don’t forget to review the grid on page 157.
Mark’s embarrassment on only recently learning the term satisficing.
How Jaime would approach this book as a workshop.

Pause to Think: Using Mental Models to Learn and Decide (Heilbrunn Center for Graham & Dodd Investing Series)

$22.32

This book is a practical and accessible introduction to mental models, teaching readers how to harness their power to think more clearly, make better decisions, and learn more effectively. The essential step in applying these concepts and frameworks, Jaime Lester shows, is to pause.