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117th out of 238 books
—
398 voters
Wait: The Art and Science of Delay
What do these scenarios have in common: a professional tennis player returning a serve, a woman evaluating a first date across the table, a naval officer assessing a threat to his ship, and a comedian about to reveal a punch line?
In this counterintuitive and insightful work, author Frank Partnoy weaves together findings from hundreds of scientific studies and interviews wi...more
In this counterintuitive and insightful work, author Frank Partnoy weaves together findings from hundreds of scientific studies and interviews wi...more
Hardcover, 304 pages
Published
June 26th 2012
by PublicAffairs
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My first professional job as a Librarian was in 1972 at the Worcester Public Library, with long hair and a beard and fire in my belly to save the world with equal access to information. Library Director Joseph S. Hopkins described an administrative strategy of never making any decision until forced to do so. I was not the only one who thought this showed a lack of courage, rather than good judgement. As the years have gone by I have been forced to reconsider many of my youthful value judgements....more
The problem with Frank Partnoy’s Wait can be summed up through his story of UNX, a high frequency trading firm. Unlike day trading, where humans quickly buy and sell stocks, HFT is entirely computerized. Advanced algorithms make millions of trades a day and enact them quicker than any human could hope.
In 2006 UNX was in trouble, their software and hardware was outdated, but they invested millions to develop a new high speed-trading platform, and by 2007 they were ranked the best in the industry...more
In 2006 UNX was in trouble, their software and hardware was outdated, but they invested millions to develop a new high speed-trading platform, and by 2007 they were ranked the best in the industry...more
I guess my snarky takeaway from this book by a former investment banker and corporate lawyer is that it's always best to act at exactly the right time, neither too soon nor too late. Thanks very much for that insight. But actually the book is full of interesting descriptions of experiments examining why we make the decisions we do. We are not rational actors, as economists used to think. Some of the results are obvious, others quite surprising. Subjects exposed subliminally (they all reported th...more
Quick, from the title alone, what's book is the opposite of this? If you said Blink by Malcom Gladwell, then you and I have the same thought process. The subtitle of this book is "The Art and Science of Delay", which is so different from the thin-slicing concept in Blink. But, apart from the subject matter, both books feel similar - they're written in an enjoying way (well, there's another part about the essence of the book, but I don't know how to describe a book's character through mere words)...more
Interesting book which investigates how people act/react to various stimuli. Partnoy begins with superfast sports like tennis and cricket providing analysis of accomplished players like Connors and Evert actually take the maximum amount of time to 'see' the incoming ball before responding. He works his way through decision making and reactions to things that are on much longer time scales, like responding to global warning, and introduces the idea of discounting to frame the argument. Consistent...more
Just like it's said that revenge is a dish best served cold, apparently waiting before striking, or just plain doing something, is often the better course of action. In Wait Frank Partnoy explores delay in both short and long term decisions and how understanding the former can help us better handle the latter.
Remember the marshmallow experiment and its discoveries concerning decision making and self-control? The kids who waited were rewarded with two instead of just one marshmallow, but does thi...more
Remember the marshmallow experiment and its discoveries concerning decision making and self-control? The kids who waited were rewarded with two instead of just one marshmallow, but does thi...more
A fun discussion of, well, delay – about how it is important sometimes to "don't just do something, stand there," and it is important to pay attention. More precisely, a secret to success is to observe, process, and delay making a decision as long as you can - but no longer. (The trick, of course, is in identifying how long is "as long as you can.") The book demonstrates how areas as diverse as high-performance sports, firefighting, and medicine benefit from the delay loop of observing-processin...more
Loved the premise of this book...that we make better decisions when we take as much time possible to make them. The author then goes on to make the case by looking at professional athletes, business people, journalists, authors, military officials, etc. I like anything that tells me not to rush as I feel like this is one of the biggest and least helpful message that we get from society today. There are tons of great examples in the book where the "long view" pays off and where the overnight succ...more
Weak. Partnoy says little that can't be better said by Tversky or Kahneman in their behavioral finance research. In fact, this whole work feels like a compilation of behavioral psychology and behavioral finance. Partnoy also throws in a lot of neuroscience, seemingly to lend credibility to his meandering thesis about the power of waiting. It seems like Partnoy is guilty of a typical error today in analyzing human behavior - an overemphasis on the materiality of the mind - classic materialism and...more
Awesome awesome awesome! I loved the discussions and the topics he addressed, from reaction times in tennis, fencing, and baseball, to patience in investing, to climate change. What really caught my attention was his discussion of the billable hour and how being hourly changes one's perception of time. I use the billable hour and the awareness of how it can change my thinking is the first step in counteracting its negative influence on my life.
This is now on my list of recommended reading for ne...more
This is now on my list of recommended reading for ne...more
One of the best books I've read this year.
If you were fascinated by Malcolm Gladwell's "Blink", this is one nice antidote, offering great insights from opposite direction: there is merit in delay our judgement, in waiting for a little while before we decide.
Partnoy made a great work pulling together different stories, research, and studies from various fields. From sport, military, biology, neuroscience, etc. Not only that, he writes beautifully with clarity. This book will keep you intrigued al...more
If you were fascinated by Malcolm Gladwell's "Blink", this is one nice antidote, offering great insights from opposite direction: there is merit in delay our judgement, in waiting for a little while before we decide.
Partnoy made a great work pulling together different stories, research, and studies from various fields. From sport, military, biology, neuroscience, etc. Not only that, he writes beautifully with clarity. This book will keep you intrigued al...more
I was very disappointed by this book. Heard Partnoy interviewed on NPR and he was quite interesting. But the book wasn't.
Far too much time spent on why tennis players wait until the last minute to make choices. (Interesting point, but a full chapter?) And that was just the beginning.
So I jumped to the chapters around Procrastination. But while he was quite articulate on-air, the book buries what he has to say amongst data that clutters rather than enlightens.
This should have been a good book - a...more
Far too much time spent on why tennis players wait until the last minute to make choices. (Interesting point, but a full chapter?) And that was just the beginning.
So I jumped to the chapters around Procrastination. But while he was quite articulate on-air, the book buries what he has to say amongst data that clutters rather than enlightens.
This should have been a good book - a...more
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I thought this book was extremely interesting. In today's world, time is always of the essence. Matters always seem to be urgent and we generally race against the clock to get things done. However, Partnoy suggests that we can benefit greatly from delay in many different aspects of life from sports to apologies to investments. I found this book entertaining and informative. I found particularly interesting Partnoy discussion of the Einstellung effect (defined in the book as our tendency to becom...more
It took me some time to start reading this book: I am, after all, a true procrastinator. Once started my reading progressed in fits and starts as I found the content varied in its ability to keep me engaged. Parts were fascinating helping me to gain insight into different timescales of decision making, from fast sports to the future of civilisation in the context of global warming. Parts were rather dry reflecting details of (relevant) research. I reached the end a couple of days ago and conscio...more
Learning how waiting can help us make better decisions. Key takeaways - As experts, recognize when the situation is new and we are again novices. Don't Panic. Use the OODA (Observe, Orient, Decide, Act) loop. Timing and the benefits of a pause. Relativity of time, and how to not get stuck in your thinking. Overall good - but a couple fo the chapters didn't fit with the rest of the book (last chapter about thinking of the future, and the chapter on procrastination).
The book touches on a myriad of topics from algo trading, investing, first dates, infidelity, sports, human behaviour to the concept of time itself.
Quite a thought-provoking book
The best bits were about Procrastination, the concept of time and the last chapter.
Also - if you have a minute to give a reply or make a decision, wait until the last second.
Similarly, this applies to many aspects of our urgency of making decisions.
- Good Book.
- Made some notes.
Quite a thought-provoking book
The best bits were about Procrastination, the concept of time and the last chapter.
Also - if you have a minute to give a reply or make a decision, wait until the last second.
Similarly, this applies to many aspects of our urgency of making decisions.
- Good Book.
- Made some notes.
It's better to go slowly, except when it's better to go fast. Thanks!
Another one of these "brain science" books that overreaches from little experiments to big conclusions. At least Partnoy has the integrity to hedge his advice, but then that reveals its uselessness.
There are numerous interesting little unconnected magazine stories in here, but it is not a coherent book about how to improve decision-making or the value of delaying action.
Another one of these "brain science" books that overreaches from little experiments to big conclusions. At least Partnoy has the integrity to hedge his advice, but then that reveals its uselessness.
There are numerous interesting little unconnected magazine stories in here, but it is not a coherent book about how to improve decision-making or the value of delaying action.
Author Frank Partnoy's previous life as an investment banker has primed him for a very detailed examination of the decision-making process. Marshaling the latest research from economists, neurologists, and psychologists Partnoy makes a compelling case for slowing down, gathering information, observing events, and, well, waiting. Recommended if you liked Blink, Where Good Ideas Come From, and How We Decide.
An interesting take on making effective decisions. Core of the book is about timing your reactions.. 'Observe, Orient, Decide & Act' .
The authors makes a good case on how to delay your reactions to achieve best results.
The first few chapters are very interesting, however it seems like a huge thesis for some PHD later on. I lost interest and had to skip a few of chapters.
In any case it's an interesting read. Would recommend.
The authors makes a good case on how to delay your reactions to achieve best results.
The first few chapters are very interesting, however it seems like a huge thesis for some PHD later on. I lost interest and had to skip a few of chapters.
In any case it's an interesting read. Would recommend.
Partnoy looks at the time it takes us to do things, from milliseconds to decards, and tries to determine when it is best to do things and why.
To generalize, you want to spend as much time as you can to observe a situation and decide on an action before you act. In some cases such as investments it's best not to act.
There are some interesting things thrown in here, such as the real story of the development of the post-it, which isn't the overnight "ah-ha" moment we're told about, but rather a pr...more
To generalize, you want to spend as much time as you can to observe a situation and decide on an action before you act. In some cases such as investments it's best not to act.
There are some interesting things thrown in here, such as the real story of the development of the post-it, which isn't the overnight "ah-ha" moment we're told about, but rather a pr...more
A book arguing for deliberation before action. Thought it was interesting enough but the examples were a bit cobbled together. He relied on a lot of actions in 2011 and 2012 for support, which seems risky to me as the wisdom of an outcome that's a year old may be very different ten years from now. The conclusion also seemed an overreach in basically professing a reform of all based on waiting.
"Wait is instructive and entertaining. Its evaluation of our time-management skills resonates after the last page is read. Wait has the power to change our behavior if we follow the deceptively simple adage that it invokes: 'Don’t just do something. Stand there.'" --Amy O'Loughlin
ForeWord Reviews reviewed this book on our website. Read the complete review at www.forewordreviews.com.
ForeWord Reviews reviewed this book on our website. Read the complete review at www.forewordreviews.com.
Dry, dull prose. Lots of varied stories, but did not hold my interest. Duh ... He says it's better to take as much time as you can before making a decision EXCEPT when you have to act quickly. Well thank you so much for that uninspiring message. I had to skim the end and was hoping he would offer something juicy at the end to pull it all together, but I needn't have bothered. Sigh ....
The truth is somewhere in the middle between Wait and Blink, but Partnoy lays down a case for taking one's time with decisions, large and small. In his examples, those who "wait" are usually well trained and practiced athletes or learned scholars. The moral of the story for me is to keep practicing skills until you have the luxury to "wait."
I really enjoyed this book, as I'm fascinated by the sort of "behavioral psychology" that Frank uses to make his points. There were 1.2 zillion external references, making this feel more like a thesis than a hardcover. That said, the information was interesting and the documentation is engaging; the ending could have used some work, however.
Good book that states benefits of adding delay to your life. It pulls from many books that I have already read but there were a few new tidbits in here. The author is a business teacher so most new ideas come from that direction. When he begins the topic of how we determine the cost of a human life, it gets pretty interesting.
The author's idea is that when you are faced with a decision, it's best to figure out how much time you have to decide, wait as long as possible while assessing the situation and then make the actual decision quickly. I'm not finished with this book (due at library), but I'll get back to it. The examples were fascinating.
In an era of constant information and connectivity, the pressure to act, do to something, never seems to end. While books like [[ASIN:0316010669 Blink: The Power of Thinking Without Thinking]] espouse the virtues of immediate action, this book asks important questions its benefit. Should we wait?
Use a wide variety of case studies that include sports, the military, etc., Partnoy makes a compelling that we shouldn't just do something; we should stand there. I enjoyed how the author weaved in real-...more
Use a wide variety of case studies that include sports, the military, etc., Partnoy makes a compelling that we shouldn't just do something; we should stand there. I enjoyed how the author weaved in real-...more
An exploration into why waiting leads to better decisions, the author surveys experts in various domains for better understanding. Some of the stories are fresh eg inadvertent racial bias of doctors, how Jon Stewart pauses for maximum comedic impact; some not eg the PostIt.
The author brings up some interesting research regarding apologies, effects of hourly compensation, and first impressions (thin slicing) but overall the book is choppy as the author tries to tie together decisions taking millisecond, minutes, hours, and years.
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Frank Partnoy is the author of F.I.A.S.C.O., Infectious Greed, and The Match King. Formerly an investment banker at Morgan Stanley and a practicing corporate lawyer, he is one of the world’s leading experts on market regulation and is a frequent commentator for the Financial Times, the New York Times, NPR, and CBS’s 60 Minutes. Partnoy is a graduate of Yale Law School and is the George E. Barrett...more
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