Join Professor Mike Vorster, author of "Construction Equipment Economics," and Oded Ran, CEO of Clue, as they delve into the dynamic nature of change in the heavy construction industry. Explore the dual dimensions of change, both technical and social, and understand the critical role of lifelong learning in staying ahead. Discover the importance of humility and curiosity, and learn how to navigate the waves of change effectively. Get valuable insights on maintaining a competitive edge through continuous learning and adaptation.

Introduction - 0:00
The Two Dimensions of Change - 1:00
The Importance of Lifelong Learning - 3:00
Humility vs. Hubris in Embracing Change - 8:00
Practical Advice for Continuous Learning - 15:00
Recognizing and Riding the Waves of Change - 18:00
The Courage to Take Risks - 21:00
Conclusion and Future Discussions - 25:00

In this episode, Oded Ran, CEO of Clue, and Professor Mike Vorster, author of "Construction Equipment Economics," dive deep into the world of decision-making in the heavy construction industry. They explore the balance between playing it safe and taking bold risks, emphasizing the difference between being right and avoiding being wrong.

The discussion begins with a look at the psychological factors that influence our choices, such as risk aversion and the desire to avoid loss. Mike shares insights from behavioral economics, referencing the groundbreaking work of Daniel Kahneman and Amos Tversky, as well as Dan Ariely's "Predictably Irrational."

Through engaging examples and thought experiments, Oded and Mike illustrate how these concepts apply to the construction industry. They discuss the impact of conservative decision-making, the influence of sunk costs, and the importance of open conversations about risks within teams and organizations.

Listeners will gain practical advice on recognizing and mitigating risks, seeking guidance from experienced professionals, and understanding the nuances of rational and irrational decision-making. This episode offers valuable takeaways for anyone looking to navigate the complex landscape of choices and risks in heavy construction.

Join Oded and Mike for this enlightening and thought-provoking conversation, and discover how to make better decisions in your professional life.

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