Kahneman's Planning Anecdote

25 Eliezer_Yudkowsky 17 September 2007 04:39PM

Followup toPlanning Fallacy

From "Timid Choices and Bold Forecasts: Cognitive Perspective on Risk Taking" by Nobel Laureate Daniel Kahneman and Dan Lovallo, in a discussion on "Inside and Outside Views":

In 1976 one of us (Daniel Kahneman) was involved in a project designed to develop a curriculum for the study of judgment and decision making under uncertainty for high schools in Israel.  When the team had been in operation for about a year, with some significant achievements already to its credit, the discussion at one of the team meetings turned to the question of how long the project would take.  To make the debate more useful, I asked everyone to indicate on a slip of paper their best estimate of the number of months that would be needed to bring the project to a well-defined stage of completion: a complete draft ready for submission to the Ministry of education.  The estimates, including my own, ranged from 18 to 30 months.

At this point I had the idea of turning to one of our members, a distinguished expert in curriculum development, asking him a question phrased about as follows:

"We are surely not the only team to have tried to develop a curriculum where none existed before.  Please try to recall as many such cases as you can.  Think of them as they were in a stage comparable to ours at present.  How long did it take them, from that point, to complete their projects?"

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