Thinking in Bets

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Thinking in Bets Page 25

by Annie Duke


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  INDEX

  The page numbers in this index refer to the printed version of this book. The link provided will take you to the beginning of that print page. You may need to scroll forward from that location to find the corresponding reference on your e-reader.

  AARP, 185

  accountability, 129, 130, 135–37, 149, 150, 176, 188, 199, 204

  accuracy, 129, 130, 132–34, 136, 138, 139, 145, 150, 155–56, 158, 160, 161, 171

  Adventures of the Mind, 243n

  After-School All-Stars (ASAS), 213–15, 217

  age-progression technology, 184–87

  agreement, 173–74

  Alcoholics Anonymous (AA), 127–28, 132–33, 248n

  All In: The Poker Musical, 91

  all-or-nothing thinking, see black-and-white thinking

  Alou, Moises, 98, 99

  American Foreign Service Association, 139–40

  Anguished English (Lederer), 90n

  approval, 132–34

  Arbesman, Samuel, 67–68, 219

  Ariely, Dan, 89

  Armstrong, Scott, 143

  Ascent of Man, The (Bronowski), 20

  assent, 173

  automobile accidents, 89–90, 101, 111–12

  backcasting, 218–22, 225, 226

  backgammon, 244n

  Back to the Future movies, 177

  Bailenson, Jeremy, 185

  baldness, 49, 51

  Bank of America Merrill Lynch, 185

  Bartman, Steve, 98–100, 114, 229, 247n

  baseball, 84

  Bartman play in, 98–100, 114, 229, 247n

  Behavioral and Brain Sciences (BBS), 146–48, 153, 154

  behavioral economics, 11

  behavioral research, 107

  Belichick, Bill, 6, 48

  beliefs, 43, 44, 47–72, 76–77, 115, 122, 130

  abstract, 50–52, 65–66

  accuracy of, 138

  based on hearing something, 49–53, 65–66

  betting on, 61–62, 64–67, 72, 79–80, 84, 209

  confidence in, 67–72, 135, 169

  confirmatory thought and, 128

  as contagious, 168

  expressing, 170

  formation of, 49–55, 59, 61, 65–66, 80

  information and, 49–53, 55–56, 59–61, 66, 70, 94, 138–39

  and processing experience, 57–59

  smart people and, 62–64

  stubbornness of, 59–62

  Believing Brain, The (Shermer), 11–12

  Benghazi attack, 92

  Berkshire Hathaway, 191–93

  Berra, Yogi, 96, 247n

  bet(s), 111–14

  accountability and, 135

  on beliefs, 61–62, 64–67, 72, 79–80, 84, 209

  decisions as, 3–4, 43–45, 67

  definition of, 44

  on future, 79–80, 209

  against ourselves, 45–46

  winning, 130

  bias, 66, 124, 131–32, 139, 157, 181n, 207

/>   blind-spot, 62–63, 125–26

  confirmatory thought and, 128–29, 132, 141–48, 155

  exploratory thought and, 128

  hindsight, 10, 26, 212, 227–31

  Rashomon Effect and, 157–58

  self-serving, 89–96, 102, 103, 108, 110–12, 115, 132, 136, 194

  Binion’s Horseshoe Casino, 101, 124n

  bin Laden, Osama, 140, 208–9

  black-and-white thinking, 29–31, 34, 67, 94–95, 97, 105

  blackjack, 194–96

  blind-spot bias, 62–63, 125–26

  Bosnia, 140

  Bossypants (Fey), 250n

  brain, 11–15, 53, 107, 110, 116, 122, 132, 165, 183, 188, 191, 198, 219

  brain tumors, 197

  Brethren, The (Woodward and Armstrong), 143

  Brexit, 31–32, 231, 245n

  Breyer, Justice, 143–44

  Bronowski, Jacob, 20

  Buddhist monks, 110

  buddy system, 124, 178

  Burger, Justice, 143

  Burke, Brian, 6

  business start-ups, 29, 35

  “but,” 173, 207

  Caldwell, Charley, 57

  Camerer, Colin, 13, 242n

  Cantril, Hadley, 57–58

  car accidents, 89–90, 101, 111–12

  cardiovascular disease, 55, 164–65

  Carroll, Pete, 5–7, 10, 11, 22, 33, 35, 46, 48, 165–66, 216–18, 229, 230, 241n–42n

  Carstensen, Laura, 185

  Catching Hell, 99

  Center for Retirement Research, 184

  Central Park, 220

  CEO’s president-firing decision, 8–11, 33, 43, 48, 158, 229–30

  certainty:

  illusion of, 204, 206, 207

  see also uncertainty

  characterizations, 205

  chess, 20–23, 80, 86, 91, 219, 244n

  Chicago Cubs, 98–100, 229

  children, 45, 175–76

  Christie, Chris, 92–93, 110

  CIA, 140, 170

  Citizen Kane, 64–65, 68–69

  Clinton, Hillary, 32–33, 92, 230–31, 245n

  Cocteau, Jean, 98

  coelacanth, 67–68

  coin flips, 24–26, 244n

  communication:

  of information, 166, 173

  with world beyond our group, 172–76

  communism, Mertonian, 154–60, 206

  comparison and competition, 104, 105, 107, 109, 110, 123, 165

  compassion, 102–3, 105, 113–14

  self-, 206

  ConAgra, 228–29

  confidence in beliefs, 67–72, 135, 169

  overconfidence, 204

  confidence intervals, 72

  confirmatory thought, 128–29, 132, 141–48, 155, 205

  conflicts of interest, 164–69, 206–7

  Conrad, Lauren, 119–21, 125, 161, 175, 205

  consequences, 179–80

  Constitution, 156

  Crawford, Jarret, 146

  Crystal Lounge, 2, 75, 90

  CUDOS, 153–55

  disinterestedness, 154, 155, 164–69

  Mertonian communism, 154–60, 206

  organized skepticism, 154, 155, 169–71, 206, 224

  universalism, 154, 155, 160–64, 173, 205

  Daily Princetonian, 57

  Dartmouth-Princeton football game, 56–59

  data interpretation, 63–64, 181n

  Dawkins, Richard, 92n, 103

  D-Day, 208

  debating, 168–69

  decision groups (truthseeking groups), 124–27, 188, 205, 206, 225

  accountability in, 129, 130, 135–37

  accuracy in, 129, 130, 132–34, 136, 139

  charters for, 128–31, 133, 150, 157

  communicating with world beyond, 172–76

  debating in, 168–69

  diversity of viewpoints in, 137–41

  rules of engagement for, 150–51, 154–55; see also CUDOS

  social approval in, 132–34

  tilt and, 199–200

  decisions, 2–4, 44, 231

  as bets, 3–4, 43–45, 67

  consequences of, 179–80

  moving regret in front of, 186–89

  in poker, 116, 167, 179, 180, 188, 196–98

  decision swear jar, 204–7

  deliberative mind, 12–14, 16, 181n, 183, 186

  Dershowitz, Alan, 32

  Des Moines, Iowa, 37–43, 46, 48, 62, 66, 79, 135

  detail, 158–59

  devil’s advocate, 170–71

  diabetes, 55, 164

  disinformation, 60

  disinterestedness, 154, 155, 164–69

  dissent, 128, 137, 139–40, 143, 145, 148, 160, 169–73, 212, 225

  Dissent Channel, 139–40, 170

  diversity of opinions, 60–61, 129–30, 137–42, 145, 147–48, 150, 171, 172n, 211, 225

  doctors, 81, 96

  dog-to-human age ratio, 49, 50, 53

  Doubleday, Abner, 53

  Dreber, Anna, 149

  Dr. Strangelove, 19, 243n

  Duarte, José, 146

  Duhigg, Charles, 106–7, 109, 115

  Dyson, Freeman, 243n

  Dyson, George, 243n

  Easterbrook, Frank, 227–29

  echo chambers, 128–29, 141, 144–45, 206

  Eli Lilly, 150

  Ellis Island, 53

  emotions, 191, 194–96, 198–200

  employees, 48

  hiring of, 42–43, 145, 172n

  Epstein, Theo, 100

  ESPN, 91, 99

  evolution, 11–13, 51–52, 64, 110

  natural selection in, 91n–92n, 103

  experience:

  learning and, 78–80, 82, 88, 89, 91, 93–95

  processing of, 57–59

  experts, 28, 78–79, 149–50, 158–59

  exploratory thought, 128–29, 134

  extinct species, 67–68

  Facebook, 61

  fake news, 60

  false positives and false negatives, 12, 52

  fat, 54–55, 62, 85–86, 164–65

  feedback, 78–82

  Fey, Tina, 250n

  Feynman, Richard, 72n, 156, 166, 170

  filter bubble, 61

  Firestein, Stuart, 27, 246n

  FiveThirtyEight.com, 6, 32, 230, 245n

  flat tire, 190–91, 194–96, 200

  Florida Marlins, 98–100

  food and diet, 54, 202–3, 221

  fat in, 54–55, 62, 85–86, 164–65

  SnackWell’s, 85–86, 179

  football, 159

  Super Bowl, 5–7, 10, 22, 46, 48, 165–66, 216–18, 241n–42n

  Foreign Service, 139–40

  FoxSports.com, 6

  Freedom of Information Act, 157

  Freeman Spogli Institute for International Studies, 185

  free press and free speech, 156

  future, 46, 79–81, 88, 174, 178

  age-progression software and, 184–87

  backcasting from, 218–22, 225, 226

  betting on, 79–80, 209

  imagining, 183, 221

  negative, working backward from, 221–26

  reconnaissance and, 207–12, 218

  retirement planning and, 182, 184–86, 203

  scenario planning and, 209–18

  see also outcomes; time travel, mental

  gambling, 4, 39, 45, 194–96

  negotiated settlements in, 40

  slot machines, 87–88

  see also poker

  game theory, 19–21, 23,
242n, 243n

  General Electric, 150

  generalized characterizations, 205

  genes, 49, 83, 91n–92n, 103

  Gibney, Alex, 99

  Gilbert, Daniel, 50–52, 104

  goals, 82, 84, 108, 111, 174

  adjusting, 226

  working backward from, 220–24

  Goldman, William, 26, 244n

  golf, 83, 109, 247n

  Gonzalez, Alex, 100

  Google, 52–53, 61, 150, 184

  grain bin explosion, 228–29

  grant prospecting, 213–15, 217–18

  gratification, immediate or delayed, 182n, 226

  Green Bay Packers, 159

  Grey, David, 135

  groups:

  for decision making and truthseeking, see decision groups

  reasoning styles in, 128–29

  groupthink, 128

  habits, 105–11, 115, 117, 133, 134, 160, 188

  loops in, 106–7, 109

  Haidt, Jonathan, 104, 129–30, 145–46, 157

  Half-Life of Facts, The (Arbesman), 67–68, 219

  Hamm, Mia, 109

  Hansen, Gus, 244n

  happiness, 104, 231

  individual moments and, 190–91, 193–94, 199

  Happiness Hypothesis, The (Haidt), 104

  Harrington, Dan, 244n, 248n

  Harvard Business Review, 96, 219

  Hastorf, Albert, 57–58

  Hearst, William Randolph, 60

  heart disease, 55, 164–65

  Heider, Fritz, 89

  Hellmuth, Phil, 90–91

  Hennigan, John, 37–43, 48, 79, 135

  Heterodox Academy, 146–49, 153, 172n

  Hills, The, 119

  hindsight bias, 10, 26, 212, 227–31

  home buyers, 202

  Howard, Ronald, 190n

  Huxley, Aldous, 78–79

  Ignorance: How It Drives Science (Firestein), 27

  immigrants, 53, 140

  improvisation, 173–74, 207, 250n

  information, 28, 34, 70, 136

  beliefs and, 49–53, 55–56, 59–61, 66, 70, 94, 138–39

  communication of, 166, 173

  disinformation, 60

  hidden and incomplete, 20–23, 25, 26, 33–35, 45, 81, 87, 158

  new, 55–56, 61, 70, 173

  processing of, 55, 59, 62, 123, 165

  sharing of, 156–60

  source of, 161

  Institute for Advanced Study, 243n, 246n

  intellectual property, 157

  International Academy of Trial Lawyers (IATL), 93

  Internet, 60–61, 145

 

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