Episode

#233 - Annie Duke - How To Make Better Decisions
1:32:58
Published: Sat Oct 17 2020
Description

Annie Duke is a professional poker player and an author. The quality of our life depends upon the quality of our decisions. As a poker player who has competed at the biggest tournaments in the world, Annie understands the value of making good decisions under pressure. Expect to learn how to become a great decision maker, why trusting your gut is dangerous, how to account for luck, Annie's framework for making successful & repeatable decisions and much more... Sponsor: Get 10% off all LipoLife & Jigsaw Health products at https://naturesfix.co.uk/modernwisdom/ (use code MODERNWISDOM) Extra Stuff: Buy How To Decide - https://amzn.to/3jJMHkS Follow Annie on Twitter - https://twitter.com/AnnieDuke  Check out to Annie's Website - https://www.alliancefordecisioneducation.org/  Get my free Ultimate Life Hacks List to 10x your daily productivity → https://chriswillx.com/lifehacks/ To support me on Patreon (thank you): https://www.patreon.com/modernwisdom - Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/ModernWisdomPodcast Email: https://www.chriswillx.com/contact 

Chapters
Annie Duke shares her framework for successful decision making which involves acknowledging that luck plays a role, questioning your assumptions, and using multiple perspectives to evaluate decisions.
00:00 - 03:03 (03:03)
Decision Making
Summary

Annie Duke shares her framework for successful decision making which involves acknowledging that luck plays a role, questioning your assumptions, and using multiple perspectives to evaluate decisions. There is also an advertisement for MagSoothe available at naturesfix.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
Professional poker player, Annie Duke, talks about the cognitive science behind decision making in poker and how it can be applied to real world decision making problems that involve hidden and imperfect information.
03:14 - 10:20 (07:05)
Decision Making
Summary

Professional poker player, Annie Duke, talks about the cognitive science behind decision making in poker and how it can be applied to real world decision making problems that involve hidden and imperfect information.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
Preserving optionality is one way to mitigate risks in decision making by allowing for the ability to exit or choose a different path.
10:20 - 15:07 (04:47)
Risk Management
Summary

Preserving optionality is one way to mitigate risks in decision making by allowing for the ability to exit or choose a different path. However, new information may reveal itself in the future that may influence a change in decision making.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
Simon Sinek's passion for writing and storytelling is evident in his concise 195-page book.
15:07 - 18:13 (03:06)
Simon Sinek
Summary

Simon Sinek's passion for writing and storytelling is evident in his concise 195-page book. His enthusiasm for his craft is also captured in his public speaking engagements.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
In this podcast, the speaker talks about the concept of forecasting with their "gut," and how they feel it is essential to accurately take stock of present and future possibilities.
18:13 - 25:00 (06:47)
Forecasting, Gut feeling
Summary

In this podcast, the speaker talks about the concept of forecasting with their "gut," and how they feel it is essential to accurately take stock of present and future possibilities. They also discuss how forecasting with one's gut allows people to predict what will happen, not just that it will happen.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
In this podcast, the speaker talks about the usefulness of using "gut feel" as a decision-making process by combining it with other decision tools, such as following data and relying on previous experiences.
25:00 - 27:54 (02:53)
Decision-making
Summary

In this podcast, the speaker talks about the usefulness of using "gut feel" as a decision-making process by combining it with other decision tools, such as following data and relying on previous experiences.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
The quality of your decision-making process is critical, and it's important to make the implicit explicit in your decision-making process so you can evaluate both your accuracy and quality.
27:54 - 37:09 (09:14)
Decision-making
Summary

The quality of your decision-making process is critical, and it's important to make the implicit explicit in your decision-making process so you can evaluate both your accuracy and quality. While gut decision-making can get you pretty far, you always have to be checking back to ensure that the world hasn't changed or given you a 'bike where the handlebars work differently.'

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
The consequences of ignoring data you don’t understand can have catastrophic effects, as demonstrated by Hillary Clinton’s campaign mistake of not paying attention to specific states that ended up costing her the election.
37:08 - 43:48 (06:39)
Data analytics
Summary

The consequences of ignoring data you don’t understand can have catastrophic effects, as demonstrated by Hillary Clinton’s campaign mistake of not paying attention to specific states that ended up costing her the election. It is important to educate oneself on the available data and seek help if necessary in order to make informed decisions.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
The podcast deals with the shortcomings of pollsters in predicting election results, especially with the margin of error and limiting of information at their disposal.
43:48 - 49:28 (05:40)
Polling, Elections
Summary

The podcast deals with the shortcomings of pollsters in predicting election results, especially with the margin of error and limiting of information at their disposal.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
This podcast discusses the importance of maximizing the time spent on decision making by prioritizing places where there is value in doing so and minimizing time spent on places where there is little value.
49:28 - 56:10 (06:42)
Decision Making
Summary

This podcast discusses the importance of maximizing the time spent on decision making by prioritizing places where there is value in doing so and minimizing time spent on places where there is little value. It emphasizes the need to gather information and consider the world's response to one's decisions.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
Spending too much time choosing a dish on a menu is a bad use of your time, as you could be enjoying the time by talking to the people with you, and the impact of not choosing the right dish is tiny.
56:10 - 1:02:37 (06:26)
Food Choices
Summary

Spending too much time choosing a dish on a menu is a bad use of your time, as you could be enjoying the time by talking to the people with you, and the impact of not choosing the right dish is tiny.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
The shorter the time period in which one can realize that a decision made did not have any effect on their happiness, the lower the impact of that decision on their life.
1:02:37 - 1:11:32 (08:55)
Remembering Self
Summary

The shorter the time period in which one can realize that a decision made did not have any effect on their happiness, the lower the impact of that decision on their life. To get outside of oneself and view a decision like an outside observer, one can apply the only option test, essentially taking the item out of the bucket.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom
We tend to speak to people in a way that creates an illusion of agreement, without really finding out if they have a different opinion than we do, and sometimes our opinion can shift while hearing someone speak, causing an agreement to their opinion even if it wasn't initially shared.
1:11:33 - 1:16:40 (05:07)
Communication
Summary

We tend to speak to people in a way that creates an illusion of agreement, without really finding out if they have a different opinion than we do, and sometimes our opinion can shift while hearing someone speak, causing an agreement to their opinion even if it wasn't initially shared.

Episode
#233 - Annie Duke - How To Make Better Decisions
Podcast
Modern Wisdom