Key Insights From:
Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts
By Anne Duke
- Life is far more comparable to poker than to chess.
- We make a mistake when we evaluate good and bad decisions based on the outcomes.
- It’s misleading to use black-and-white categories of “success” and “failure” when we talk about probabilities.
- Everyday decisions are “bets,” and most of the bets you make are against your future alternative self.
- Differentiating luck and skill helps us make sense of past outcomes.
- It’s more effective and less overwhelming to “remember the future” rather than to plan from the present.