From Inc · · 1m
Why a Coin Toss Might Be Your Company's Best Decision-Making Tool
A coin flip reveals hidden biases in company decisions.
In brief
A coin flip reveals hidden biases in company decisions. Delaying tough choices maintains the status quo, and a coin toss helps companies avoid bias in decision-making. Originally reported by Inc.
Quick answers
- Why delay decisions?
- Companies lose money by avoiding tough choices, keeping current spending and roles open.
- Heads or tails?
- Heads directed people toward change; tails pointed toward staying with the status quo.
- What happens next?
- Companies can use coin tosses to reduce bias and make faster, better decisions.
- What is the key takeaway from Why a Coin Toss Might Be Your Company's Best Decision-Making Tool?
- Delaying tough choices maintains the status quo, and a coin toss helps companies avoid bias in decision-making.
Why delay decisions?
Companies lose money by avoiding tough choices, keeping current spending and roles open.
The hidden cost of waiting
PwC’s 2025 survey of 678 executives found 57 percent missed opportunities due to slow decisions.
Status quo bias
Delaying decisions maintains the status quo, which costs money and opportunities.
Coin toss experiment
University of Chicago economist Steven Levitt used 20,000 coin flips to test decision biases.
Heads or tails?
Heads directed people toward change; tails pointed toward staying with the status quo.
Long-term impact
Levitt surveyed participants twice, after two months and six months, to track outcomes.
What happens next?
Companies can use coin tosses to reduce bias and make faster, better decisions.
The essence
Delaying tough choices maintains the status quo, and a coin toss helps companies avoid bias in decision-making.
