Today, in the MBA Systems Thinking class, we talked about decision-making, and I remembered the book The Betting Principle. ("Thinking in Bets")which is entirely devoted to this:)…

Today, in the MBA Systems Thinking class, we talked about decision-making, and I remembered the book The Betting Principle. ("Thinking in Bets")which is entirely devoted to this:) So I want to talk about her today. The author of the book has gone an interesting way from the author of the doctoral dissertation in cognitive psychology to a successful poker player with a total career win in the field. 4+ million dollars. It wasn’t until twenty years later that she revisited the subject, having had the experience of dealing with cognitive biases at the poker table, which had a direct impact on the player’s career and financial success. So came the book “Thinking in Bets”, which aims to help readers learn to constantly improve their decision-making process, learn how to distinguish the quality of the result from the quality of the decision and take into account the uncertainty of the world around them.

The book came to me because I played chess for many years and a couple of years in poker and the examples from the book are very close to me. Plus, the cover of the book depicts the Monty Hall Paradox, which I first saw from a chess coach of years. 8 And that blew my mind as a kid:)

I highly recommend the book:)

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