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Decision Making

New mathematical model shows how diversity speeds consensus

  • January 29, 2020
  • by Andy

I’m glad there is now a mathematical model to demonstrate this. Here’s the qualitative side that I’ve observed (and sought) in my collaborators over the years: diversity of thought and experience breeds confidence in decision making.

Let me further that. When you are encountering a complex, type 1 decision with partial or imperfect information you seek perspective. Getting additional perspectives from people with backgrounds similar to yours might give you confidence in your own experience and its relevance but not that you have closer to perfect information on the decision. By seeking and synthesizing diverse views you gain (or lose) confidence in your position which is critical in these situations. And by diverse, I don’t just mean different or contrarian. It’s actually as, if not more, important to consider the diversity of the person than their view. Some decision making processes specifically advise contra-examples or “pre-mortems” which is fine but it can overly influence your perspective given its contrasting nature. What I seek are people with experience and backgrounds dissimilar to mine. Sometimes they are contra to my position and that’s informative. Sometimes they’re close and that helps bring confidence to my perspective.

Scientific literature abounds with examples of ways in which member diversity can benefit a group — whether spider colonies’ ability to forage or an industrial company’s financial performance. Now, a newly published mathematical framework substantiates the seemingly counterintuitive observations made by prior scholars: Interaction among dissimilar individuals can speed consensus.

https://engineering.nyu.edu/news/new-mathematical-model-shows-how-diversity-speeds-consensus
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Andrew Breen is a partner at The Buy Build Fund and the principal of Assert Digital Ventures where he acquires & invests in small, cash flow positive digital businesses with growth potential. He uses his years of digital product experience to expand the market. Currently focused on health & wellness, Andrew has grown ADV’s acquisitions significantly to date. In addition, Andrew advises leading companies from startups, investors to Fortune 1000 companies on digital products and transformation. Known for his deep knowledge of the Lean framework, Andrew has significantly restructured the digital products, processes and culture of a range of companies. He is an adjunct professor at both NYU's Stern School of Business and Courant (CS) Institute teaching on a range of tech product management and innovation topics. He is contributing author on two books on tech product and cultural topics.
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