![]() You believe cardio is good for your heart and you believe that you’ll live happily ever after with your partner. You believe you’ll like living in a big city better than your small town. You believe that job will be more fulfilling than this one. In Thinking in Bets, Annie Duke argues that the decisions you make are ultimately driven by beliefs. So let’s break down what it means to “think in bets.” Vetting Your Beliefs Understand the value in having a group of like-minded individuals whose support and dissent can help you vet your decisions.Move away from reactive decisions and toward objectivity. ![]() Learn not to judge the quality of a decision solely on the outcome it produces.Her process boils down to “thinking in bets,” or re-framing every decision as a “bet” against yourself. In the early 2000s, she began sharing her strategies with professionals across such fields as finance, law, and business. The game enabled her to observe how other people make decisions in a setting where every choice leads to one of two clear outcomes-winning or losing money-and those outcomes serve as feedback about the quality of your decisions. She left her doctoral studies in cognitive psychology, took up poker to earn a little money, and ended up becoming a professional poker player whose 20-year career would garner over $4 million in earnings. In Thinking in Bets, Annie Duke discusses how her decades-long poker career helped her refine her approach to decision-making and develop strategies that can be applied to day-to-day life and business settings. Thinking in Bets: Annie Duke’s Philosophy Keep reading to learn how to think in bets. These three building blocks-beliefs, outcomes, and groups-are the core of Duke’s philosophy. When you think in bets, you start with a foundation of well-informed beliefs, you become adept at learning from the outcomes of your past decisions, and you find a group of people who can help stop you from slipping into ineffective habits. In Thinking in Bets, Annie Duke shares strategies that can help you become more consistently rational and intellectually flexible. Have you read Thinking in Bets, Annie Duke’s book about decision-making? What application does it have for your life? Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading. This article is an excerpt from the Shortform book guide to "Thinking in Bets" by Annie Duke.
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