Modern Wisdom #233 - Annie Duke - How To Make Better Decisions
27 snips
Oct 17, 2020 
Annie Duke, a professional poker player and decision-making expert, shares her insights on making better choices. She discusses the dangers of relying solely on gut feelings and emphasizes a structured approach to decision-making. Topics include how to manage uncertainty, the role of luck, and the cognitive biases that can cloud judgment. Duke offers practical frameworks to enhance your decision-making skills and highlights the importance of education in this field, advocating for resources that promote decision-making in schools.
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Defining Decisions
- A decision is a choice between different paths, representing potential futures.
- Staying on your current path is also a decision, as it involves choosing not to explore other options.
The Cost of Choice
- Choosing one option means rejecting others, including their potential future benefits.
- Prioritize optionality by favoring easily reversible choices or pursuing multiple options simultaneously.
Optionality and Risk
- Preserve optionality to mitigate downside risk in uncertain situations.
- Optionality allows adaptation to new information and changing circumstances.
