10 Nov '11, 12am

Civil servants urged: Be humble and know your biases

One of Singapore's top policymakers has this advice for his peers: Be humble and aware that you are prone to the same psychological biases as the people for whom you make decisions. Mr Ravi Menon, managing director of the Monetary Authority of Singapore, issued his word of caution in a speech that dwelt at length on how people's behaviour can defy logic, reason and common expectations. But, he added: 'The fact that people sometimes make choices that may not be in their best interests does not mean that things would necessarily be better if the Government made those choices on their behalf.' The reason: 'Policymakers themselves suffer from similar cognitive and psychological biases when analysing challenges or designing solutions. So a good dose of humility and self-awareness is in order.' Please enable JavaScript to view the comments powered by Disqus. blog comments powere...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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