business strategy | February 22, 2019

Smart People Make Bad Choices. Bestselling Author and Poker Champ Maria Konnikova Explains Why.

“If we think of life as one big game,” says psychologist turned poker champ Maria Konnikova, “the question becomes, how do we play it optimally?” Just like in poker, leaders, managers and CEOs are dealt a set of important decisions every day. How can you ensure that you’re always making the right one?  

“You need to understand what all great leaders understand,” says Konnikova. And that is: “what worked before might not work now.” Before she joined the poker circuit, Konnikova was a psychologist, studying overconfidence in decision making. How do very smart people who normally make very good decisions act when you place them in uncertain, ambiguous, unpredictable environments? “They keep doing the same thing they’ve always done…even when the task is switched, when the decision parameters change,” and as a result, the smartest, most educated, most financially sophisticated people tend to fail in environments of uncertainty.

 

In the video below, Konnikova explains her research, offering useful insights on how to fight the urge to repeat mistakes, and how to adapt to change quickly and effectively.   

 

How Smart People Fail at Making Choices | Maria Konnikova

 

To book Maria Konnikova for your next event, contact The Lavin Agency

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innovation | February 21, 2019