In 'Thinking in Bets', Annie Duke, a former professional poker player, explores how decision-making mirrors the world of gambling. She reveals how to embrace uncertainty and make better choices by assessing probabilities rather than outcomes. Through engaging stories and psychological insights, Duke challenges readers to rethink their approach to risk and reward. This book is not just for poker enthusiasts but for anyone seeking to navigate life’s complexities with a clearer mindset. Will you gamble on chance, or will you learn to think like a winner?
By Annie Duke
Published: 2018
"In poker and in life, the most important skill is to know how to make the best decision with the information you have, understanding that uncertainty is a part of the game."
Wall Street Journal bestseller! Poker champion turned business consultant Annie Duke teaches you how to get comfortable with uncertainty and make better decisions as a result. In Super Bowl XLIX, Seahawks coach Pete Carroll made one of the most controversial calls in football history: With 26 seconds remaining, and trailing by four at the Patriots' one-yard line, he called for a pass instead of a hand off to his star running back. The pass was intercepted and the Seahawks lost. Critics called it the dumbest play in history. But was the call really that bad? Or did Carroll actually make a great move that was ruined by bad luck? Even the best decision doesn't yield the best outcome every time. There's always an element of luck that you can't control, and there is always information that is hidden from view. So the key to long-term success (and avoiding worrying yourself to death) is to think in bets: How sure am I? What are the possible ways things could turn out? What decision has the highest odds of success? Did I land in the unlucky 10% on the strategy that works 90% of the time? Or is my success attributable to dumb luck rather than great decision making? Annie Duke, a former World Series of Poker champion turned business consultant, draws on examples from business, sports, politics, and (of course) poker to share tools anyone can use to embrace uncertainty and make better decisions. For most people, it's difficult to say "I'm not sure" in a world that values and, even, rewards the appearance of certainty. But professional poker players are comfortable with the fact that great decisions don't always lead to great outcomes and bad decisions don't always lead to bad outcomes. By shifting your thinking from a need for certainty to a goal of accurately assessing what you know and what you don't, you'll be less vulnerable to reactive emotions, knee-jerk biases, and destructive habits in your decision making. You'll become more confident, calm, compassionate and successful in the long run.
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“In poker and in life, the most important skill is to know how to make the best decision with the information you have, understanding that uncertainty is a part of the game.”
Thinking in Bets
By Annie Duke
Discover a world of knowledge through our extensive collection of book summaries.
Annie Duke is a renowned author, speaker, and former professional poker player, known for her expertise in decision-making and strategic thinking. Her notable works include "Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" and "How to Decide: Simple Tools for Making Better Choices." In her writing, Duke seamlessly combines insightful psychological principles with practical advice, offering readers valuable tools for improving their decision-making processes both in personal and professional contexts.
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