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Covid-19 Crisis: Annie Duke on Hedging and the Last Disaster Syndrome

Behavioral Grooves Podcast

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The Trade-Off Between Time and Accuracy

We need people to get better at understanding that when you're dealing with complex problems, that there's a real trade off between time and accuracy. When should you quickly? When should you sort of stick around and say, actually, I should try to see what the real answer is here? And sometimes it's not. There's some decisions where you could linger on it for a year. Other decisions where you just better go and you're willing to sacrifice the actual accuracy in order to get there because the impact of not acting is just really hot. So as a society, we need to get more comfortable with thinking that way.

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