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    DELUSIONS OF SUCCESSBY DAN LOVALLO & DANIEL KAHNEMAN

    Group 9

    1514009 Anurag Rai 1514045 Santosh Mishra

    1514021 Karthik Ramanathan 1514057 Sujatha Krishnamurthy

    1514033 Prana !ongar" 15140#9 $ino% Sankaranarayanan

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    WHATS IN IT FOR US?

    Real Life - Managerialperspeci!e

    " Anal#sis $f %&'% ITpr$(ecs)a!erage c$s *%+',illi$n.

    A!erage $!err/n 0as 1'2

    % in + pr$(ecs a 3lac4 s0an " C$s$!err/n $f 15526 Sc7e8/le $!err/n $f'52

    Reel Life'("r"stim

    at"'ptimism

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    P"ssimism

    %&55 2

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    .H3R aricle 9# 3en Fl#9(erg : Ale;an8er3/8

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    SUR=E> - INFERENCES

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    COBNITI=E AND ORBANIATIONAL 3IA

    o " g"t a +han+again in phon"s an% m

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    Anc7$ring C$,pe

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    BETTINB AROUND THE 3IASES

    O/si8er !ie0" An$7er na,e f$r

    Reference ClassF$recasing

    " Usef/l $nl# 07en si,ilarpre8ecess$r e;iss

    " Seleci$n $f Reference

    Class is 7e 4e#

    " N$ access $ 7e 8eails$f 7e pr$(ec is 7e 4e#f$r 9eer pre8ici$ns

    " Wi7 ,$re access $8eails $pi,is, en8s$ increase

    - Ne0 enreprene/rs )1J&& in n/,9er 0ec7ances $f s/ccess f$r 7eir $0n 9/sine$7ers in 7e 9/siness li4e 7eir $0n $n

    - F$r $7ers6 c7ances $f s/ccess 0ere perK/ie g$$8 J

    - F$r self6 c7ances $f s/ccess 0ere perceiO/san8ing %

    - Afer 7ree #ears6 $nl# ++ r,s s/r!i!e

    - @re8ici$ns f$r $7ers )Ta4en 0i7 $/si8

    cl$ser $ reali# 7an 7e pre8ici$n f$r sinsi8e !ie0

    E;a,ple C$$per e al

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    Opi,is, sill 7as an Opi,isic C7ance

    3alance 9e0een Realis, an8 Opi,is, is i,p$ra$rgani$/ see 7ingsQ an8 #$/ sa# 07# 3/ I 8rea, $f 7ingne!er 0ere6 an8 I sa# W7# n$

    -Be$rge 3ernar8 S7a0

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    HOW TO TAE AN OUTSIDE =IEW?Selecing a ReferenceClass

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    Fi #$/rself in 7e 8aa

    Assess 7e relia9ili#

    C$rrec 7e in/ii!eesi,ae

    -nt">s !"+ision to ".it th" m"musin"ss

    -An%y Gro(" took /h" r"(o(ingt"stB

    -CAhaB mom"ntD R"sut E nt" %oth" mi+ropro+"ssor in%ustry-Mr El4ing$n6 c7air,an an8 f$/n8er $f

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    -M$nsan$s CEO6 Mr S7apir$ a8,is 7a M$n7a8 a in ear a 7e i,e A8,is 7a c$,pan

    0$/l8 9e in a 9eer p$sii$n $8a#6 7a8 i lis9eer $ criicis,s

    S$/rce Arn$l8 C C$$pers @ri

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    8/8/hank FouD