Thinking in Bets is one of the best books I've read on decision making science. Annie Duke shares actionable frameworks and methodologies to make decisions, leveraging her own experience as a professional poker player. A few lessons I learned from the book:
🃏 Decision-making in life is like poker: you have to make decisions with incomplete information, and, even if you make the right ones, sometimes luck gets in the way.
✅ What makes a good decision is not that it has a great outcome but that it comes from a good process. Said differently, f you only analyse decisions by looking at the results, you're not taking luck into account.
🎲 All decisions are bets against future versions of ourselves. Problem: we are too much dependent on beliefs we have formed unconsciously.
🌱 While experience is necessary to become an expert, it's not sufficient. To learn from your mistakes, you need to analyse your decision-making process independently of luck and update it accordingly.
🤝 Being aware of our biases is not enough to help us overcome them. The best way to analyse our decision-making process objectively, we need to put together a support group of like-minded individuals who are willing to give each other feedback.
Get Thinking in Bets 👇
Annie Duke