by Patrick O’Shaughnessy
My guest this week is with Annie Duke, and the topic of our
discussion is how to improve decision making.
We break decisions down into their component parts: values,
beliefs, decisions, randomness, and outcomes. After diving into each, we
discuss how to make better decisions, how to work in group settings, and how to
harness power of tribes and identity to improve our behavior.
Annie has thought about this as much as anyone, and her various
tricks for getting us to think in probabilities and to stop evaluating
decisions based on outcomes that have been tainted by randomness will be useful
for anyone listening.
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1:23 – (First Question) – Why people don’t take the best
2:11 – Investing tribes
4:21 – Jay Van Bavel twitter
6:34 – Rule setting as a way of crafting an investment
11:13 – How much control do we have in choosing our
15:52 – Anatomy of a decision
19:28 – Her concept of resulting
26:47 – How beliefs
impact your decision making
34:28 – Tact’s for making the best decision
42:40 – Ego and decision making
47:06 – People who are exceptional at changing their
48:18 – How often do people who change their decision
making, stick with the rules of the game
50:07 – Finite
and Infinite Games
50:28 – Psychology of making decision that involves other
59:20 – Never close
doors on other people
1:01:57 – Best decision that Annie made
1:04:24 – Kindest thing anyone has done for Annie