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Old 11-15-2007, 10:47 PM
0524432 0524432 is offline
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Join Date: Sep 2006
Posts: 461
Default Re: GPSTS conference 11/10/07 at Harvard Law School: My Thesis

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I think that the best contribution that the GPSTS could make in relation to using poker theory to arm people with a positive way of thinking about and dealing with luck is through adapting some Sklansky.

Through his Theory of Poker book many of us were introduced to the rather radical concept of conceiving of the correctness of decisions and behaviour abstracted from actual success or failure.

So rather than bemoan the fact that we got our money in as a 3/1 favourite several times in a row and lost, we can think of it as each time we did it we "won money".

So applying the concept of Sklansky bucks to non-gambling fields would be worthwhile as an educational tool. It effectively ignores the role of luck in judging the correctness of decisions.

There is another completely opposite point that can be made in which a person is not skilled in an area and *needs* to rely on luck to succeed at something. There is a lesson to be learnt there from poker too. The lesson is to be active and to put yourself in a position where it is possible to get lucky. That 10 babe at the bar isn't gonna knock at your bedroom door!

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