TED Talks Daily 3 lessons on decision-making from a poker champion | Liv Boeree
Oct 1, 2018
Liv Boeree, a professional poker player and science communicator, shares valuable insights on decision-making drawn from her poker experience. She discusses the delicate balance of skill and luck in our choices, emphasizing the need for self-evaluation to maintain high performance. Boeree also critiques relying on gut feelings, advocating for a data-driven approach in complex decisions. With real-life examples, she highlights the importance of quantifying risks and blending intuition with analysis to enhance decision-making skills.
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Luck and Skill Shape Outcomes
- Success depends on both skill and luck, influencing major life outcomes like health and wealth.
- This ambiguity makes it difficult to accurately assess the quality of our decisions during winning streaks.
Early Poker Success Misled Liv
- Liv Boeree won a major poker tournament after only a year playing full-time and wrongly assumed her success was pure skill.
- Her performance declined until she acknowledged the luck factor and adjusted her approach accordingly.
Use Numbers to Clarify Thinking
- Quantify your thinking by expressing beliefs and probabilities numerically to improve clarity.
- Replace vague terms like 'probably' with precise numbers in conversations for better communication.