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Drawing from her experience as a professional poker player and decision strategist, How to Decide offers a practical toolkit for making better choices by separating decision quality from outcome quality — teaching you to think in probabilities, overcome cognitive biases, and stop second-guessing yourself.
“Resulting” is Duke’s term for judging a decision’s quality by its outcome. A good decision can lead to a bad outcome (and vice versa) because of factors outside your control. When you overfit decision quality to outcome quality, you risk repeating errors that preceded a lucky good outcome and avoiding good decisions that didn’t work out due to bad luck.
When stuck between choices, ask yourself: “If this were the only option I had, would I be happy with it?” If you’d be happy with either option, the decision is actually easy — flip a coin. This test reveals that “hard” decisions are often easy because both options are acceptable.
Instead of binary thinking (”this will work” or “this won’t”), assign percentage likelihoods to outcomes. Every decision involves the Three P’s: Preferences (what you value), Payoffs (potential gains and losses), and Probabilities (how likely each outcome is). This framework forces you to acknowledge uncertainty and consider alternatives.
Solicit feedback from others before making decisions, but do it right: let them answer first before expressing your own opinion to avoid contaminating their views. Ask them to argue against your position. The goal is getting genuine perspectives, not confirmation of what you already believe.
“The quality of the outcome casts a shadow over our ability to see the quality of the decision.”
© 2022
