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Title: Liv Boeree | Big Think
Authors: Big Think
Category:articles
Tags:to-review
Number of Highlights: 4
Source URL: https://youtu.be/FVamrGf8UYA
Date: 2024-01-03
Last Highlighted: 2024-01-03
Highlights
The most damaging bias that can come up in poker â and I also think very often in life â is whatâs known as confirmation bias.
Status quo bias is basically when we say â to assert â whenever we catch ourselves saying, well, itâs always been done this way, or itâs worked for me like this in the past, and this is my way of doing things.
Another classic one that comes up in poker is the sunk cost fallacy, where again youâll have a lot of chips, perhaps almost all of your stack is in the middle, and yet you are 85 to 90 percent confident that you have the worst hand, and youâre not gonna be able to get â youâre putting another chip in the pot is probably not a good idea. But will often go to ourselves, oh well, I put â Iâve gone this far, Iâve put this much in, I might as well see it through to the end.
Itâs interesting to observe sort of the difference in emotion you can have when you end up in a very similar situation.