Steve's Reviews > Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts

This is a combined review of the following books:
Gary Smith, "What the Luck?"
Dan Ariely, "Predictably Irrational"
Annie Duke, "Thinking in Bets"
Gary Smith, "Standard Deviations"

I'm a big believer that statistics and behavioral economics are much under-appreciated fields. As a booster shot, to recharge my thinking in these areas, I picked up these books. They pretty much did the job; they are well-written in the language of the common person.

Ms. Duke's work uses her experience as a gambler to shed light on ways to better thinking. Mr. Ariely takes a slightly more academic approach, yet creates a very readable work. Mr. Smith's first work, "Standard Deviations" is also quite useful.

With respect to Mr. Smith's second work, "What the Luck?" I must take issue. Much of this volume is nearly a direct cut-and-paste from his first volume; yet, he provides no admission. In fact, the bibliography doesn't list his first book, though the earlier work is referenced on the book jacket. This situation seems a bit odd to me, perhaps a bit sly? Would Julia Child have been so bold to repeat recipes without acknowledgment?

I'm left with the thought that for all our wonderment for the human brain, for all its capabilities, it is an organ with many, many flaws. Because influential agents understand these flaws, we are susceptible to both gross manipulation and errors in personal and group judgement; I know I sure have contributed more than my fair share, worse, I know I will continue to do so.