Berlin Science Week
1—10 Nov 2024 Berlin Science Week

Framing: Why Humans are Actually Good Decision-Makers and How We Can Improve

Francis de Véricourt, Thomas Ramge

In a world of increasing technological turmoil, the human ability to frame and then make decisions offers unprecedented opportunity. Professor Francis de Véricourt, director of the Center for Decisions, Models and Data at ESMT and holder of the President’s Chair, presented his recent findings on decision-making as published in his co-authored book Framers: Human Advantage in an Age of Technology and Turmoil.

We’re always told that humans make bad decisions and that more data is better. But this is backwards: People are actually good at decisions because we use mental models and can envision new realities outside of data. Great outcomes don’t depend so much on the final moment of choosing but on generating better alternatives to choose from. That’s framing. It’s a cognitive muscle we can strengthen to improve our lives, work, and future and to handle economic upheaval, social tensions, and existential threats. Based on current research in AI, decision science, and cognitive psychology, the book Framers shows how.

Francis’ presentation was followed by a discussion with the audience to delve into current themes and trends around decision-making and framing. Moderator: Dr. Thomas Ramge, journalist and book author.

This event was part of Berlin Science 2021 and organised by the ESMT Berlin.

 

Francis de Véricourt

European School of Management and Technology Berlin (ESMT)

Francis de Véricourt is Professor of Management Science and the director of the Center for Decisions, Models and Data (DMD-Center) at ESMT Berlin. He is also the first holder of the President’s Chair. Francis lived and worked in France, USA, Germany and Singapore. Francis was the first Associate Dean of Research at ESMT and held faculty positions at Duke University and INSEAD, where he also was the Paul Dubrule Chaired professor in Sustainable Development. He was a post-doctoral researcher at Massachusetts Institute of Technology (MIT) and received a MS degree in applied mathematics and computer science at the Grenoble Institute of Technology as well as a PhD degree from Université Paris VI, France. His general research interest is in the area of decision science, analytics and operations. He is the author of numerous academic articles in prominent management, analytics and economics journals such as Management Science, Operations Research, American Economics Review and others. He received several outstanding research awards, including the ENRE and MSOM best publication awards of the Institute for Operations Research and the Management Sciences. Francis has been the recipient of many teaching awards for delivering classes to MBA and Executive MBA students at ESMT and INSEAD. He has extensive experience in executive education and corporate learning solutions. He is a regular speaker in academic and industry forums.

Thomas Ramge