I’ve been trying to organize my notes from Annie Duke’s latest book “Thinking in Bets”. There is so much to uncover there, its taking longer than I expected. I’ll get it done this weekend(says while keeping fingers crossed).
Meanwhile, here is something that I thought is one of the more interesting concept in the book:
Resulting: Decision and the outcome of that decision are two separate things. They are not necessarily correlated. Suppose you choose a restaurant for dinner after looking it up on Yelp and reading all the reviews. Next day you came down with food poisoning, does that mean your decision to go to that restaurant was a bad one? Not really, you tried looking at all the information available and make a choice, the outcome is independent of your choice. Blaming your decision after looking at the outcome is called resulting.
A more accurate way to look at it would be:
Outcome = Decision + Luck
So don’t blame yourself every time something does not work out.