Rating: ****
Tags: Business & Economics, Decision-Making & Problem Solving, Psychology, Cognitive Psychology & Cognition, Strategic Planning, Lang:en
Publisher: Penguin
Added: July 25, 2018
Modified: November 5, 2021
Summary
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. **