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Annie Duke

“Chess, for all its strategic complexity, isn’t a great model for decision-making in life, where most of our decisions involve hidden information and a much greater influence of luck. This creates a challenge that doesn’t exist in chess: identifying the relative contributions of the decisions we make versus luck in how things turn out. Poker, in contrast, is a game of incomplete information. It is a game of decision-making under conditions of uncertainty over time. (Not coincidentally, that is close to the definition of game theory.) Valuable information remains hidden. There is also an element of luck in any outcome. You could make the best possible decision at every point and still lose the hand, because you don’t know what new cards will be dealt and revealed. Once the game is finished and you try to learn from the results, separating the quality of your decisions from the influence of luck is difficult.”

Annie Duke, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts
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Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke
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