It’s Hard For People To Make Bets That Hedge Against Their Identity - Deepstash

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It’s Hard For People To Make Bets That Hedge Against Their Identity

People will hedge against disaster with fire insurance but are less likely to hedge against their marriage with a prenup (only about 5% of married couples have a prenup).

We have this idea that if we do hedge against something, somehow if the bad thing happens, we caused it. And this is particularly problematic in situations that do have very high emotional valence.

Books such as The Power of Positive Thinking and and The Secret by Rhonda Byrne teach readers to think positively because their outcome is dependent on their thoughts.

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MORE IDEAS FROM THE SAME PODCAST

The top 500 poker players tend to be brilliant in game theory and in making real-time, high-stakes decisions.

  • If you’re in savannah and you hear rustling in the grass, you don’t want to spend time thinking about the probability that it’s a lion.
  • When making bets with friends, it’s probably best to not make any bets that can be interpreted as negative, such as betting your friend’s kid won’...

It’s hard to be happy playing poker because the losses hurt much more than the happiness you gain from winning. Instead, focus on the process.

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