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How to refine your critical inquiry skills with Alex Edmans
No one sets out to believe misinformation, yet it happens with alarming frequency. In an age where we're constantly bombarded with confident claims about everything from the best foods to eat to the top strategies for boosting shareholder value, it’s become an increasingly difficult battle to make decisions based on solid research vs. misleading assertions.
According to London Business School professor Alex Edmans, though, it’s a fight worth waging. As a research professor who’s spent much of his career examining the truthfulness of bold claims, Edmans explains that, just like the biases themselves, you already have the tools to counter them. By tapping into them, you can learn to think more critically.
Learning objectives:
Understand why misinformation spreads.
Identify human biases to avoid errors in data interpretation.
Evaluate research claims for accuracy and relevance.
Scrutinize research studies.
Adopt a healthy skepticism.
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Lessons:
Lesson 1: Why Misinformation Prevails
It often feels like misinformation is lurking everywhere. And indeed, researchers have found that, especially on social media, misleading information really does spread faster than the truth. But why?
Lesson 2: Why We’re Prone to Believing Misinformation
When you hear new information that matches your beliefs perfectly, it feels pretty reassuring, right? The reverse also tends to be true — when you encounter a fact or opinion that contradicts what you believe, the discomfort is palpable.
Lesson 3: The Ladder of Misinference
The journey from a simple statement to conclusive proof is fraught with potential misinterpretations, much like a game of telephone where the message morphs with each retelling even as listeners feel they’ve heard their version “clearly.” So, how can consumers of research spot any unearned inferential leaps?
Lesson 4: A Statement Is Not Fact
Picture this: you're scrolling through social media, and you come across a famous quote attributed to a well-known business leader. Instinctively, you nod in agreement — after all, if someone that successful said it, it must be true, right?
Lesson 5: A Fact Is Not Data
Let’s say your team decides to invest in a new marketing strategy because a report shows that five out of six companies saw a 50% sales increase using it. It sounds compelling — until you learn that the report only looked at six companies and excluded thousands who didn’t experience the same revenue growth with that strategy. This is a classic case of b…
Lesson 6: Data Is Not Evidence
Did you know that the number of people killed by venomous spiders in the US is correlated with the number of letters in the winning word of that year’s National Spelling Bee? Neither did we.
Lesson 7: Evidence Is Not Proof
Visualize this: it’s a hot summer day and you bite into a delicious ice cream cone. Refreshing, right? But now imagine it’s the dead of winter. Would that ice cream bring the same joy on a freezing morning? Probably not. Just like ice cream is delightful in the summer but less appealing in the cold, evidence that holds true in one context might come up …
Lesson 8: Considering an Author’s Credibility
In a famous scene in "The Wizard of Oz", Dorothy pulls back the curtain to reveal the ordinary man behind the grand illusion of “The Great Oz.” It’s a dramatic moment that highlights the lengths some leaders will go to maintain their power and mystique.
Lesson 9: Evaluating Scientific Studies
In fast-paced business environments, decisions often need to be made quickly, sometimes before all the facts are clear. When these decisions rely on research, it can conflict with the much slower pace of developing scientific consensus.
