thinking-in-bets
Thinking in Bets
What It Is
Thinking in Bets is a framework for improving decision quality by separating decisions from outcomes. The core insight: a good decision can have a bad outcome, and a bad decision can have a good outcome—luck is always involved.
Most people judge decisions by their outcomes (called "resulting"). This is backwards. You can only control the quality of your decision, not the outcome. Annie Duke, a professional poker player turned decision strategist, built this framework from poker, where you're forced to make decisions with incomplete information under uncertainty—exactly like business.
The key shifts:
- Move from "Was I right?" to "Was my thinking process good?"
- Move from "What happened?" to "What did I know at the time?"
- Move from implicit assumptions to explicit, testable beliefs
When to Use It
Use Thinking in Bets when you need to:
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