The Science of Success Making Smart Decisions When You Don’t Have All The Facts with Annie Duke
14 snips
Feb 9, 2023 AI Snips
Chapters
Transcript
Episode notes
Poker as a Teacher
- Poker teaches good decision-making because bad decisions lead to losses.
- This differs from real life, where poor decisions can sometimes yield positive outcomes due to luck.
Luck and Hidden Information
- Outcomes in life, like poker, don't always reflect decision quality due to hidden information and luck.
- Even simple decisions like crossing a green light can have unpredictable outcomes due to unknown factors.
Four Quadrants of Decision Outcomes
- Analyze all four quadrants of decision outcomes: good decision/good outcome, good decision/bad outcome, bad decision/good outcome, and bad decision/bad outcome.
- Focus especially on good outcomes to identify poor processes leading to them, as this is often overlooked.