Howard Raiffa, a Father of Decision Science

Leadership and diplomacy involve making decisions at various levels.

Founder of the Kennedy School of Government. Negotiation expert. Decision science scholar.

You may not have heard about Howard Raiffa, but he is considered a foundational scholar, leader, and teacher who made decision theory and negotiation accessible and important to the organizational practitioner. He is also a key figure in the development of games and simulations to teach key concepts and to apply them in practice.

His first book, Games and Decisions (1957) introduced game theory. Other notable publications include The Art and Science of Negotiation (1982), Smart Choices (1998), and Negotiation Analysis (2003).

The best practical advice, Professor Raiffa wrote, is “to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.” He explained that “the art of compromise centers on the willingness to give up something in order to get something else in return.”“Successful artists,” he added, “get more than they give up.”

Source: Howard Raiffa, Mathematician Who Studied Decision Making, Dies at 92 – The New York Times

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