About the Role of Intuition (original) (raw)

2020, Making Better Decisions

About the Role of Intuition 2.1 Background Intuition is a very necessary element of creative work, such as research. Many famous scientists have discussed the role of intuition in their work. We provide two quotes. "Isaac Newton supposedly watched an apple fall from a tree and suddenly connected its motion as being caused by the same universal gravitational force that governs the moon's attraction to the earth." John Maynard Keynes, the famous economist, said "Newton owed his success to his muscles of intuition. Newton's powers. . ." (www.p-i-a.com/Magazine/ Issue19/Physics_19.htm). Gigerenzer, author of the book Gut Feelings: The Intelligence of the Unconscious (2008), claims that he is both intuitive and rational. "In my scientific work, I have hunches. I can't explain always why I think a certain path is the right way, but I need to trust it and go ahead. I also have the ability to check these hunches and find out what they are about. That's the science part. Now, in private life, I rely on instinct. For instance, when I first met my wife, I didn't do computations. Nor did she." (B. Kasanoff in Forbes Magazine February 21st, 2017.) But the difference between research and decision-making is that, intuition often guides research, but is subsequently subjected to rigorous laboratory and field tests. We ask that the same is done about the use of intuition in decision-making. Because solely basing your decisions (in particular, in the corporate context) on intuition, is very risky-and unnecessary. If possible, one should do some form of analysis, either to help support the intuition or challenge it. This chapter serves as motivation for us, why we often benefit from some form of analysis. Daniel Kahneman was interviewed on May 25th, 2012, for the Spiegel Online Magazine about the role of intuition in decision-making. The interview is interesting and we reproduce here the beginning of it (Also see Kahneman 2011).