Wait by Frank Partnoy Summary

Wait challenges the cultural obsession with speed, arguing that strategic procrastination improves decision-making. Frank Partnoy combines neuroscience, psychology, and finance research to show how delaying actions—from milliseconds to years—allows better analysis of outcomes. Key concepts include "time warping" (altering time perception) and prioritizing "event time" over rigid schedules.

Professionals, leaders, and anyone facing high-stakes decisions will benefit. The book appeals to psychology enthusiasts, behavioral economics students, and those seeking to optimize personal or workplace productivity. It’s particularly relevant for industries like finance, healthcare, and tech, where snap judgments carry significant risks.

Yes, for its evidence-based approach to rethinking speed-versus-accuracy tradeoffs. Partnoy’s blend of academic research and real-world examples—like racial bias in medical snap judgments—offers actionable frameworks for mastering delay. Critics note deeper insights in fast-timeframe decisions (milliseconds) than long-term strategies.

• Time Manipulation: Adjusting decision speed based on context.
• Event Time: Aligning actions to situational cues rather than clocks.
• Thin-Slicing Pitfalls: Risks of overvaluing rapid judgments (e.g., biased medical diagnoses).
• Optimal Delay: Calculating the maximum permissible pause before committing.

Partnoy’s Wall Street experience informs examples like derivatives trading, where milliseconds matter. He argues against knee-jerk reactions, showing how top traders delay to process hidden market signals—a concept applicable to personal investing and corporate strategy.

Some reviewers highlight uneven depth, with stronger analysis of split-second decisions than long-term planning. Others note limited practical guidance for implementing delay in daily life despite compelling theoretical frameworks.

Both explore decision-making psychology, but Kahneman focuses on cognitive biases, while Partnoy emphasizes timing. Wait complements Kahneman by addressing when to apply fast/slow thinking, not just how.

• “The best experts take the longest to make the simplest decisions.”
  Highlights deliberate practice in expertise.
• “We need to make time to wait.”
  Summarizes the core thesis of strategic delay.

The book advises scheduling buffer time before commitments (e.g., emails, meetings) to reduce rushed errors. Managers can apply its principles to foster deliberate team cultures, avoiding “speed for speed’s sake”.

• Doctors making racially biased snap diagnoses.
• Tennis players optimizing return-shot delays.
• Financial crises worsened by reactive policymaking.

As AI accelerates decision speeds, Partnoy’s warnings about hasty automation resonate. The book offers a counterbalance to real-time analytics trends, advocating for human-paced judgment in tech-driven industries.

His derivatives trading career (Morgan Stanley, CS First Boston) and academic law/finance expertise lend credibility to case studies on market behavior and regulatory decision-making.