Thinking in Bets

 

Summary

How does a cost-benefit analysis relate to one’s happiness? We’ll look at that in our Thought of the Day. And in our interview segment, we’ll share an amazing discussion with Annie Duke that will take your decision-making ability to an entirely new level. That and more on today’s show.

Bob’s Thought of the Day

We’ll explore:

  • What drives our decision-making.
  • The meaning behind a powerful quote by Harry Browne: “Individuals make mistakes. But every act is aimed at bringing happiness.”
  • Two examples of using a cost-benefit analysis in our decision-making.

Interview with Annie Duke

You’ll discover:

  • Why you don’t need to know anything about poker to benefit from Annie’s new book, Thinking in Bets.
  • What you can learn about decision-making from what is regarded as one of the worst calls in Super Bowl history.
  • Why you should disconnect the outcomes of a decision from the quality of that decision.
  • How Annie defines a bet, and why it’s helpful to treat your decisions as bets.
  • Why we shouldn’t be so quick to pat ourselves on the back when we have a good result.
  • The power of saying, “I’m not sure.”
  • Several techniques for making better decisions.
  • What you can learn about decision-making from Homer’s The Odyssey.
  • Why a lot of good can come from asking ourselves, “Wanna’ bet?”

Click to Tweet

Three of the most powerful words we can ever say are, “I’m not sure.” @AnnieDuke #relationships CLICK TO TWEET
The quality of our lives is the sum of #decision quality plus luck. @AnnieDuke #success CLICK TO TWEET
How big a #bet would you place if you knew your opinion had to be correct before speaking, posting, or tweeting it? @AnnieDuke CLICK TO TWEET

Interview Links

Resources