Created by the Value Team at Schroders, the Value Perspective podcast takes a look at decision making in complex and uncertain environments.
Episodes
Monday Feb 22, 2021
Monday Feb 22, 2021
This week we're joined by Maria Konnikova. She is an author, a professional poker player, and psychologist. Maria shares with us how she utilised different techniques during her poker career that shaped how she thought about probabilities like the description-experience gap, weighing risk vs. reward and communicating and framing risk. She has found these mindsets have helped in a wide variety of situation from Covid-19 to analysing Presidential Election pundits.
Maria's newest book The Biggest Bluff: How I Learned to Pay Attention, Master Myself and Win is available now.
Episode minutes:
01:07 Intro
03:36 Thinking in probability: nature or nurture?
07:29 How can thought processes learned in poker be used in everyday life?
10:25 What is the best way to better communicate complex messages about risk?
15:18 The Power of Variance: why probability doesn't care about history or the past
20:57 Streamlining and optimising your thought processes under pressure
25:01 What is a bad decision you made?
27:29 Book Recommendations: The Data Detective by Tim Harford
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