Why Leaders Need to Think More Like Professional Gamblers
APRIL 5, 2019
Many years later, French mathematician Pierre-Simon Laplace developed Bayes’s idea into a powerful theory, which we now know as the Bayes Theorem. Bayes is relevant to modern leaders because it can help them develop an approach to uncertainty that is less deterministic and more probabilistic. The point of this exercise was to develop an alternative league table, which might serve as a more reliable predictor of results and a better basis on which to value and acquire players.