Poker Lessons For Business Strategy
Six poker principles that sharpen strategy
Outcome Bias
Outcome bias causes people to judge decisions mainly by how they turned out, even when luck, uncertainty and hidden constraints played a major role in the result.
Law of Triviality
Familiar details attract more debate than consequential complexity
Miller's Law
People can hold only a limited amount of information in immediate memory, though the exact number is more nuanced than the popular rule suggests
Framing Effect
The framing effect shows that people can make different choices about the same underlying option depending on whether it is presented as a gain, a loss, a risk, or a form of safety.
