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September 2012

Book Review - "Wait" by Frank Partnoy

Wait Book Cover Image After hearing a recent news blurb from The Economist on a new book called "Wait" by Frank Parntnoy I put this book in my queue.

I just finished reading the book -- well to be completelly honest, I listened to it via my Audible.com subscription -- and here is my review.

I found the book very interesting and a good balance between some of the "physical" and "mental" reasons for how we make decisions, and why waiting before making a decision is a valid decision making process.

The book moves through examples of "waiting" from a series of perspectives that drive home the point that waiting is a natural course of activity and something that should be a valid alternative to snap decisions and first-imrpessions.

Here is a list of highlevel topic areas where waiting is analyzed:

  • Relationships (Baby to Parent, Dating, etc)
  • Financial (Lehman Brother's collapse, )
  • Athletics (Football, tennis, baseball, cricket , )
  • Humor (Commedian's and their punch lines)
  • Fast Food (just seeing a logo can speed you up)
  • Military (OODA loop)
  • Politicans (and the art of the apology)

In addition, one of the main themes of the book is that "managing delay", which we called today "procastination," is actually something we really need to cultivate more or we will continue to have growing problems with time-based decision making.

In summary, according to Professor Partnoy the best decision makers are those that can gauge how much time they have to react, and then wait the longest possible amount of time before making/executing on a decision.