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      Thinking in Bets

      Thinking in Bets

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      Limba:
      Engleza
      Data publicării:
      2019
      Editura:
      Tip copertă:
      Paperback
      Nr Pag:
      288
      ISBN:
      9780735216372
      Dimensiuni: l: 13cm | H: 20cm
      Descriere

      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's always information 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 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 dont 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.

      Media

      I read this book because a person I admire recommended it. Otherwise, I would have been reluctant, as poker is not my first choice of a wisdom fountain. I was wrong. At the time of writing this book Annie Duke was a highly successful professional poker player. I found the book fascinating and practical, and I often use the “betting” paradigm in making decisions or helping my clients to make decisions.

      Being a more cognitive nature, I tended to imagine life more as a chess game. It made me look smart. Duke convinced me that life resembles much more a poker game. You don’t see the whole table, just a few cards, you cannot plan too much in advance, there are rules, training matters. But one can always bluff. Luck always finds a way to tip the balance. And you may take good decisions that lead to bad results and take bad decisions that lead to good results. It is for the reader to make a bet and read the book.

      Cosmin Alexandru

      Co-founder Teamology Institute

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