Executive Summary
To understand how leaders were making decisions during Covid-19, researchers surveyed CEOs at more than 500 Chinese firms during February and March of 2020. They wanted to know which biases these leaders were bringing to the table and how it impacted their decision-making during Covid-19. They identified three distinct biases: 1) Optimism vs. pessimism; 2) Costs v. people; and 3) Short-term vs. long-term thinking. In this article, they explain the managerial implications and offer ways for leaders to combat each.
