 Nobel laureate Daniel Kahneman and his late colleague Amos Tversky demonstrated that even very smart people make predictable mistakes. For example, people are more likely to prefer a sure thing over a gamble of equal expected value when the choice is framed in terms of potential gains, while people prefer a gamble over a sure thing when the very same choice with the same expected values is framed in terms of the opposite outcome. This is called framing and is an example of how human decision making is neither perfectly rational nor unpredictable. Because many biases are predictable, leaders can counteract their effects by designing decision environments that reduce their likelihood. How will you frame your next policy or decision challenge? Read well this week.