Placing Bets
How do we know if we made a good decision?
Most people judge the quality of the decision solely by the outcome and the result.
We all get lucky now and then, but luck runs out.
On the other hand, the best decision often results in an unwanted outcome.
What’s the solution? Thinking in bets.
Based on my information, how many times out of 10 would this decision turn out favorably?
We place bets every day because we make decisions every day. Not deciding is a decision, too.
