Decision Analysis:Introductory Lectures on Choices Under Uncertainty,There are lots of books out there with similar titles.
by Howard Raiffa
What's more, these books are used in similarly-titled university courses - many of them taught at leading business schools! (Howard Raiffa taught at the Harvard Business School.)
You'd think that SecTreas Paulson & our MBA President would have been exposed to some of this stuff during their academic careers.
The techniques presented in these books and classes are well-known, intellectually robust, and effective.
(Yes, SecTreas Paulson, there are recipes to follow to help draft a playbook when "responding to turmoil we have never faced".)
Why is this fairly straight-forward technology not being used?
Stop the madness!
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