![]() Improving decision quality is about increasing our chances of good outcomes, not guaranteeing them.Also seeking certainty can wreak havoc on our decisions in an uncertain world. “I’m not sure” - Acknowledging uncertainty ~ Making better decisions starts with understanding that uncertainty can create lot of mischief.There is also an element of luck in any outcome.” It is a game of decision-making under conditions of uncertainty over time.Valuable information remains hidden. “Chess, for all its strategic complexity, isn’t a great model for decision-making in life, where most of our decisions involve hidden information and a much greater influence of luck.Poker, in contrast, is a game of incomplete information. Life Is Poker, Not Chess -Important to accept life’s uncertainty and unpredictability.Learning to recognise the difference between the two is what thinking in bets is all about” “Thinking in Bets starts with recognizing that there are exactly two things that determine how our lives turn out: the quality of our decisions and luck. ![]() Author stresses on the fact that it is very important to understand that outcomes depend on two factors – skill and luck and it is imperative to separate the two while evaluating the decision and outcome.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |