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Maxims for Thinking Analytically: The wisdom of legendary Harvard Professor Richard Zeckhauser Kindle Edition

4.3 out of 5 stars 510 ratings

This book will help you think more analytically. Doing so will enable you to better understand the world around you, to make smarter decisions, and to ultimately live a more fulfilling life. It draws on the maxims of Richard Zeckhauser, a legendary Harvard professor, who has helped hundreds of students and colleagues progress toward these goals. These maxims, one-sentence nuggets of wisdom that capture key principles for clear and effective thinking, are illustrated with practical examples from Richard’s colleagues and students. From these examples, you will learn how one colleague saved money on her wedding by thinking probabilistically, how Richard and his wife Sally made an agonizing health decision that significantly boosted Sally’s survival probabilities, and how the prime minister of Singapore, Lee Hsien Loong, used a maxim he learned from Richard 40 years ago to understand and deal with COVID-19 in his nation. This book provides vital insights for anyone who wants to think more effectively about the world. The author, Dan Levy, teaches at the Harvard Kennedy School, where he has been a close faculty colleague and mentee of Richard Zeckhauser for more than 15 years.
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Editorial Reviews

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"Spending an hour talking to Richard Zeckhauser is like having a massive dose of wisdom injected into your brain. It can be hard to keep up.This book provides a sample of that wisdom in small and digestible chunks. It is a treasure."-
Richard H. Thaler, Winner of the Nobel Prize in Economics, University of Chicago Professor, and author of "Nudge: Improving Decisions About Health, Wealth, and Happiness" and "Misbehaving: The Making of Behavioral Economics"

"This book reveals a creative mind and a caring heart. Richard Zeckhauser's maxims help us become smarter and better. Analysis does not equal paralysis; it leads to wiser decision making. Join the thousands of Harvard students and faculty who have benefited from Richard's wisdom: read Maxims for ThinkingAnalytically."-
Iris Bohnet, Harvard Kennedy School Professor, author of What Works: Gender Equality by Design

"Richard Zeckhauser has few if any equals in insights and wisdom delivered per hour, especially when the subject involves risk and uncertainty. This book makes much of that knowledge available to its readers." -
Mike Spence, Winner of the Nobel Memorial Prize in Economics, New York University Professor

"Maxims for Thinking Analytically was a true eye opener to me. As a professional in a game which is based on probability, it was shocking to realize that I am pretty bad in estimating chances and using probability in everyday life."-
Marion Michielsen, two-time world champion in bridge and frequent bridge partner of Richard Zeckhauser

"Richard Zeckhauser is a savvy producer and consumer in a noisy marketplace of ideas. His maxims are a crash course in thinking effectively."-
Phil Tetlock, University Professor, University of Pennsylvania, author of Superforecasting: The Art and Science of Prediction

About the Author

Dan Levy has taughtquantitative methods, policy analysis, and program evaluation at Harvard University for more than 15 years. He has conducted evaluations ofsocial programs in a wide range of settings including Burkina Faso,Indonesia, Jamaica, Mexico, Niger, Tanzania, and the United States. Heis a passionate educator and currently serves as the faculty director of the Public Leadership Credential, the Harvard Kennedy School's flagship online learning initiative. He has won several teaching awards,including the university-wide David Pickard Award for Teaching andMentoring. He wrote Teaching Effectively with Zoom: A practical guide to engage your students and help them learn. His teaching was featured in a book titled Invisible Learning by David Franklin. He grew up in Venezuela and received his PhD in Economics from Northwestern University.Richard Zeckhauser is the Frank P. Ramsey Professor of Political Economy, Kennedy School, Harvard University. He graduated from Harvard College (summa cum laude) and received his PhD there. He is an elected fellow of the Econometric Society, the Institute of Medicine (National Academy of Sciences), and the American Academy of Arts and Sciences. In 2014, he was named a Distinguished Fellow of the American Economic Association. His contributions to decision theory and behavioral economics include the concepts of quality-adjusted life years (QALYs), status quo bias, betrayal aversion, and ignorance (states of the world unknown) as a complement to the categories of risk and uncertainty. Many of his policy investigations explore ways to promote the health of human beings, to help markets work more effectively, and to foster informed and appropriate choices by individuals and government agencies. Zeckhauser has published more than 300 articles. Apart from academics, Zeckhauser is a Senior Principal at Equity Resource Investments, a real estate private equity firm. He has won multiple national championships in contract bridge.

Product details

  • ASIN ‏ : ‎ B098GLJS51
  • Accessibility ‏ : ‎ Learn more
  • Publication date ‏ : ‎ June 30, 2021
  • Edition ‏ : ‎ 1st
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 2.5 MB
  • Simultaneous device usage ‏ : ‎ Unlimited
  • Screen Reader ‏ : ‎ Supported
  • Enhanced typesetting ‏ : ‎ Enabled
  • X-Ray ‏ : ‎ Enabled
  • Word Wise ‏ : ‎ Enabled
  • Print length ‏ : ‎ 208 pages
  • ISBN-13 ‏ : ‎ 978-1735340890
  • Page Flip ‏ : ‎ Enabled
  • Customer Reviews:
    4.3 out of 5 stars 510 ratings

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Dan Levy
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Dan Levy has been a faculty member at Harvard University for over 20 years, where he has held various positions related to promoting excellence in teaching and learning. He currently serves as the faculty director of the Public Leadership Credential, the Harvard Kennedy School's flagship online learning initiative.

He co-founded Teachly, a web application aimed at helping faculty members to teach more effectively and more inclusively. He has won several teaching awards, including the university-wide David Pickard Award for Teaching and Mentoring.

He wrote "Teaching Effectively with ChatGPT" with Angela Perez. He also wrote “Teaching Effectively with Zoom: A practical guide to engage your students and help them learn” and “Maxims for Thinking Analytically: The wisdom of legendary Harvard professor Richard Zeckhauser” His teaching was featured in a book called “Invisible Learning” written by David Franklin. He is passionate about effective teaching and learning, and enjoys sharing his experience and enthusiasm with others. He holds a PhD in Economics from Northwestern University.

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4.3 out of 5 stars
510 global ratings

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Customers say

Customers find the book to be a great guide to thinking analytically, with one review noting how it distills complex topics into simple maxims. Moreover, the book is practical and easy to read, with one customer mentioning it can be read in one sitting.

17 customers mention "Cognitive power"17 positive0 negative

Customers appreciate the book's cognitive power, finding it a great guide to thinking analytically, with one customer noting how it distills complex topics into simple maxims.

"...Decision-making is not easy, and the book has many great examples showing us how we can make a better decision and not regret it." Read more

"...This book is packed with practical examples of statistical inference, thinking tools, and mental models that help you understand the complexity of..." Read more

"The Good: The maxims in the book all make sense and are useful. Dr. Zeckhauser sounds like a wonderful mentor...." Read more

"...the anecdotes are hit or miss...but mostly hits. the maxims are simple, deceptively so, because it requires enormous practical experience to..." Read more

5 customers mention "Practical"5 positive0 negative

Customers find the book practical and useful.

"The Good: The maxims in the book all make sense and are useful. Dr. Zeckhauser sounds like a wonderful mentor...." Read more

"...starting out with Schelling and Macnamara...his advice is grounded, practical and useful. highly recommended." Read more

"...or former students of Zeckhauser, which makes it fun and very practical. I hope you love this book as much as I did." Read more

"...getting valuable information to help drive analytic decisions with applicable and easy to understand examples" Read more

4 customers mention "Readability"4 positive0 negative

Customers find the book readable, with one mentioning it can be finished in one sitting.

"...it is lite ... and can be read in one sitting, but only can be internalized and practiced in a lifetime...." Read more

"...pulling together the full range of Richard’s concepts into a single digestible read...." Read more

"...Overall, the book is easy to read and a great resource to everyone who wants to think effectively." Read more

"excellent reading..." Read more

The book is filled with great examples on how to make hard decisions
5 out of 5 stars
The book is filled with great examples on how to make hard decisions
Good decisions can have poor outcomes, and bad decisions can end up with good outcomes. This is why decision-making can be hard, whether it's personal or work-related decisions. Yes, the book referred to a lot of big names, but they do offer very good insight into Richard's wisdom. Dan Levy did a good job of applying Richard Zeckhauser's wisdom in thinking analytically. For example, in The foreword by Larry Summers, he tells a story about what happened when he was in the hospital with a serious condition. At the time, there were two possible explanations for his symptoms. When told this, Richard inquired about their relative frequency in the population. None of the interns and residents knew the relative frequency, and several thought it was entirely irrelevant. They learned from Richard the need to pay attention to background probabilities. Another example is his mother. The doctor was unsure if his mother had appendicitis or a tumor and was waiting for more data. Richard cut to the chase, saying, "I presume that in either case, you will operate; if yes, shouldn't you operate now and bring both sets of tools? Waiting for another day would be dangerous. Chapter 1 is about thinking straight. We often get stuck and unable to think clearly about a situation. If we can simplify the situation to enable clear thinking, it'll push you forward. Another thing that helps is to think of an everyday analog when trying to understand a complex situation. Chapter 2 is about tackling uncertainty. It's all about probabilities. COVID-19 is one of those black swan events. Many of us did not expect how our lives and those of everyone on the planet would be upended by a global pandemic. Many nations have used probabilities to formulate their policies on how to deal with the pandemic. Chapter 3 is about making decisions wwhich can be hard in many cases. What I find helpful is Maxim 11 - don't be limited by the options you have in front of you. Sometimes we've to think out of the box. Otherwise, we might not see the big picture. The other thing is that we can get overwhelmed by information. However, information is only valuable if it can change your decision. Chapter 4 is about understanding policy. I really like the example of the fairness of colleges' early additions. Stanford University's former President Hennessy defended the early admission program by emphasizing that the average SAT score of those admitted early was 210 points higher than that of those admitted in the regular pool. Richard's feedback was that to determine if early admission is fair, we need to know if the worst person admitted under early admission is better than the best person denied under regular admission. Think about the margin and not the average. Decision-making is not easy, and the book has many great examples showing us how we can make a better decision and not regret it.
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Top reviews from the United States

  • Reviewed in the United States on June 3, 2024
    Format: PaperbackVerified Purchase
    Good decisions can have poor outcomes, and bad decisions can end up with good outcomes. This is why decision-making can be hard, whether it's personal or work-related decisions. Yes, the book referred to a lot of big names, but they do offer very good insight into Richard's wisdom. Dan Levy did a good job of applying Richard Zeckhauser's wisdom in thinking analytically.

    For example, in The foreword by Larry Summers, he tells a story about what happened when he was in the hospital with a serious condition. At the time, there were two possible explanations for his symptoms. When told this, Richard inquired about their relative frequency in the population. None of the interns and residents knew the relative frequency, and several thought it was entirely irrelevant. They learned from Richard the need to pay attention to background probabilities.

    Another example is his mother. The doctor was unsure if his mother had appendicitis or a tumor and was waiting for more data. Richard cut to the chase, saying, "I presume that in either case, you will operate; if yes, shouldn't you operate now and bring both sets of tools? Waiting for another day would be dangerous.

    Chapter 1 is about thinking straight. We often get stuck and unable to think clearly about a situation. If we can simplify the situation to enable clear thinking, it'll push you forward. Another thing that helps is to think of an everyday analog when trying to understand a complex situation.

    Chapter 2 is about tackling uncertainty. It's all about probabilities. COVID-19 is one of those black swan events. Many of us did not expect how our lives and those of everyone on the planet would be upended by a global pandemic. Many nations have used probabilities to formulate their policies on how to deal with the pandemic.

    Chapter 3 is about making decisions wwhich can be hard in many cases. What I find helpful is Maxim 11 - don't be limited by the options you have in front of you. Sometimes we've to think out of the box. Otherwise, we might not see the big picture. The other thing is that we can get overwhelmed by information. However, information is only valuable if it can change your decision.

    Chapter 4 is about understanding policy. I really like the example of the fairness of colleges' early additions. Stanford University's former President Hennessy defended the early admission program by emphasizing that the average SAT score of those admitted early was 210 points higher than that of those admitted in the regular pool. Richard's feedback was that to determine if early admission is fair, we need to know if the worst person admitted under early admission is better than the best person denied under regular admission. Think about the margin and not the average.

    Decision-making is not easy, and the book has many great examples showing us how we can make a better decision and not regret it.
    Customer image
    5.0 out of 5 stars
    The book is filled with great examples on how to make hard decisions

    Reviewed in the United States on June 3, 2024
    Good decisions can have poor outcomes, and bad decisions can end up with good outcomes. This is why decision-making can be hard, whether it's personal or work-related decisions. Yes, the book referred to a lot of big names, but they do offer very good insight into Richard's wisdom. Dan Levy did a good job of applying Richard Zeckhauser's wisdom in thinking analytically.

    For example, in The foreword by Larry Summers, he tells a story about what happened when he was in the hospital with a serious condition. At the time, there were two possible explanations for his symptoms. When told this, Richard inquired about their relative frequency in the population. None of the interns and residents knew the relative frequency, and several thought it was entirely irrelevant. They learned from Richard the need to pay attention to background probabilities.

    Another example is his mother. The doctor was unsure if his mother had appendicitis or a tumor and was waiting for more data. Richard cut to the chase, saying, "I presume that in either case, you will operate; if yes, shouldn't you operate now and bring both sets of tools? Waiting for another day would be dangerous.

    Chapter 1 is about thinking straight. We often get stuck and unable to think clearly about a situation. If we can simplify the situation to enable clear thinking, it'll push you forward. Another thing that helps is to think of an everyday analog when trying to understand a complex situation.

    Chapter 2 is about tackling uncertainty. It's all about probabilities. COVID-19 is one of those black swan events. Many of us did not expect how our lives and those of everyone on the planet would be upended by a global pandemic. Many nations have used probabilities to formulate their policies on how to deal with the pandemic.

    Chapter 3 is about making decisions wwhich can be hard in many cases. What I find helpful is Maxim 11 - don't be limited by the options you have in front of you. Sometimes we've to think out of the box. Otherwise, we might not see the big picture. The other thing is that we can get overwhelmed by information. However, information is only valuable if it can change your decision.

    Chapter 4 is about understanding policy. I really like the example of the fairness of colleges' early additions. Stanford University's former President Hennessy defended the early admission program by emphasizing that the average SAT score of those admitted early was 210 points higher than that of those admitted in the regular pool. Richard's feedback was that to determine if early admission is fair, we need to know if the worst person admitted under early admission is better than the best person denied under regular admission. Think about the margin and not the average.

    Decision-making is not easy, and the book has many great examples showing us how we can make a better decision and not regret it.
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    One person found this helpful
    Report
  • Reviewed in the United States on July 13, 2022
    Format: KindleVerified Purchase
    but who am i to evaluate the correctness of all this wisdom. some points need reading other books , or may be studying quite a bit . hoped those pointers were given. reading once may not be enough .
    3 people found this helpful
    Report
  • Reviewed in the United States on January 4, 2022
    Format: PaperbackVerified Purchase
    Dr. Dan Levy does an excellent job of making Professor Richard Zeckhauser’s wisdom about analytical thinking accessible to everyone. This book is packed with practical examples of statistical inference, thinking tools, and mental models that help you understand the complexity of the world we live in and analyze the problems and decisions we face. The maxims are well-written and include jargon-free tools that individuals have to have in their decision-making toolbox.

    This book demonstrates how the visions and expertise of legendary Professor Zeckhauser profoundly impact his students and colleagues at Harvard. As illustrated by the successes of his students, his wisdom has the potential to substantially change individuals’ decision-making processes and behaviors. Thanks to Levy, this wisdom is now available to a wider audience!

    My favorite is Maxim 6, titled “Think Probabilistically About the World,” in which Levy provides useful examples about how to make sense of probabilistic information. For example, if you were told in 2016 that Donald Trump had a 29% chance of winning, and you knew that that did not mean that only 29% of sampled voters are going to vote for Trump, the election results would not have been as shocking. In this maxim, you will learn what that 29% actually meant. This maxim also emphasizes the importance of creating a mental habit of assigning probabilities to daily events and personal issues and how this practice would improve your decision-making. It even describes how comparing the probabilities of being attacked by bears or being killed in a bus accident would resolve a particular decision-making problem.

    Dan Levy combines Richard Zeckhauser’s wisdom with that of scholars across many disciplines. I particularly appreciated Chris Robert’s quote in Maxim 6 about probabilistic thinking: “Accepting that everything is effectively uncertain and that my thoughts, hopes, and actions can at best indirectly influence the world by influencing probability distributions: this has brought me a kind of peace through acceptance, and a greater mastery over the world around me.”

    As a scholar who specializes in decision-making in complex socio-technical systems, I am aware of how challenging it can be to distill academic knowledge into such practical terms for a general audience – in particular for a seemingly technical topic like analytical thinking. Levy breaks free of the orthodoxy that considers analytical thinking as belonging to the engineering and science world and makes analytical thinking tools accessible to everyone. Overall, it is a great guide to thinking analytically and dealing with decision-making challenges under uncertainty.

    Deniz Marti, PhD
    Postdoctoral fellow at Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS)
    One person found this helpful
    Report
  • Reviewed in the United States on September 9, 2021
    Format: KindleVerified Purchase
    The Good: The maxims in the book all make sense and are useful. Dr. Zeckhauser sounds like a wonderful mentor.

    The Bad: Continual name dropping of Nobel Prize winners, the Harvard School of Economics, and its numerous elite intellectual alumni becomes annoying after awhile.

    Many cases discussed in the book were left unresolved, particularly with regard to COVID policy. Some answers were given at the end of the book on page 211, but it would have been nice to know up front that the answer key is at the end.

    Overall, the book is worth the money but a bit unsatisfying while reading it.
    33 people found this helpful
    Report
  • Reviewed in the United States on August 23, 2021
    Format: KindleVerified Purchase
    this is an exquisitely well written book. logical, well organized, filled with practical advice. when you think you just need one more example to get it...they provide it. the anecdotes are hit or miss...but mostly hits. the maxims are simple, deceptively so, because it requires enormous practical experience to master them.

    it is lite ... and can be read in one sitting, but only can be internalized and practiced in a lifetime. the younger you are the more beneficial this book will be for you....

    Zeckhauser is an intellectual Everest at Harvard and in policy, starting out with Schelling and Macnamara...his advice is grounded, practical and useful. highly recommended.
    11 people found this helpful
    Report

Top reviews from other countries

  • Lucifer
    2.0 out of 5 stars Pretty fluffy and lacking in substance
    Reviewed in Australia on July 19, 2021
    Format: KindleVerified Purchase
    As the subject line says, this was rather fluffy and lacking in substance - filled cringeworthy, contrived anectdotes that make you feel stupider for having read them.

    Here's an example which follows from the maxim "When trying to understand a complex real-world situation, think of an everyday analogue", which takes something taught to primary school kids and tries to make it sound like some mind-blowing insight:
    --
    A simple analogue is to say that you want to compare apples to apples. I have used this analogue hundreds of times in training policy makers about evaluation of social programs by showing them a slide with two identical groups of apples, and it is incredible how such a simple image helps cement this abstract idea. They refer to this analogue frequently throughout the training when discussing whether a given evaluation method is likely to yield a credible result.
    --
  • Meenal Raje
    5.0 out of 5 stars Well packaged. Good quality book.
    Reviewed in India on October 29, 2024
    Format: PaperbackVerified Purchase
    Product was delivered on time, well packaged and fresh clean copy.
  • Mauricio
    5.0 out of 5 stars Good
    Reviewed in Mexico on August 13, 2023
    Format: PaperbackVerified Purchase
    Good
  • Ng Hock Lai
    4.0 out of 5 stars -
    Reviewed in Singapore on January 25, 2023
    Format: PaperbackVerified Purchase
  • S.
    5.0 out of 5 stars Making good decisions, a prescriptive perspective
    Reviewed in Germany on December 21, 2021
    Format: PaperbackVerified Purchase
    For many decades now, Richard Zeckhauser has been one of the leading scholars on human decision making, especially from a prescriptive perspective. That is, he accepts that humans are human indeed (being emotional, confused by complexity, looking to others), and aims to provide advice that helps people to make better decisions, on the spot. During a successful career in research and teaching multiple cohorts of future decision makers from all over the world, Richard developed simple rules, maxims, for successful decision making that all of us can easily apply in our daily work (and beyond). In this book, Dan Levy together with Richard collected and organized the experiences of many of Richard’s former students and advisees around these maxims. The interplay of the practitioner-provided examples from several fields (from business to public health), with additional commentary illustrating the key insights from Richard’s thinking, makes the book both exciting and useful reading.

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