Why Is It Worth It to Expand Your Set of Objectives? Impacts from Behavioral Decision Analysis in Action

Abstract

The generation of objectives is a crucial component of any decision-making process. However, research has shown that Decision Makers, if unaided, are considerably deficient in utilizing personal knowledge and values to form objectives for the decisions they face. This paper discusses two real interventions in which the author employed value-focused thinking devices to support both private and public organizations in generating objectives within strategic decision-making processes. The two projects deal with the challenging task of defining a new regional transportation plan for 2050 in Italy and the design of a novel selection process for a Foundation in Hungary that provides educational opportunities for underprivileged children, respectively. The aim of this paper is to share lessons learned from prescriptive interventions and discuss the impacts of collaborative Behavioral Decision Analysis in challenging societal contexts. The contribution provided by this study feeds the debate on boosting decision making by highlighting how process boosts can improve subjects’ active competences for better and more empowered strategic decisions.