Monday, April 2, 2018
Risk, decisions, and consequences............
Because decisions are made so quickly, players don't have the luxury of time in coordinating their rational, long-term, strategic plans with their decisions at the poker table. And all those decisions made under severe time constraints have immediate consequences expressed as an exchange of poker chips. The constant exchange of poker chips reminds players that there is risk in every decision. Of course, the direction in which the chips flow in the short term only loosely correlates with decision quality. You can win a hand after making bad decisions and lose a hand after making good ones. But the mere fact that chips are changing hands is a reminder that every decision has consequences - that all those execution decisions you make along the way really matter.
-Annie Duke, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts