--- title: "Meaning & Key Takeaway of: There is always opportunity cost in…" description: "\"“There is always opportunity cost in choosing one path over others. The betting elements of decisions—choice, probability, risk, etc.—are more obvious ..." image: "https://sms4smile.com/quotes/i/3b2/annie-duke-58716_bet_there-is-always-opportunity-cost-in-choo_1658411.jpg" --- # There is always opportunity cost in choosing one path over… ![“There is always opportunity cost in choosing one path over others. The betting elements of decisions—choice, probability, risk, etc.—are more obvious in some situations than others. Investments are clearly bets. A decision about a stock (buy, don’t buy, sell, hold, not to mention esoteric…” quote by Annie Duke](https://sms4smile.com/quotes/i/3b2/annie-duke-58716_bet_there-is-always-opportunity-cost-in-choo_1658411.jpg) [Download](https://sms4smile.com/quotes/i/3b2/annie-duke-58716_bet_there-is-always-opportunity-cost-in-choo_1658411.jpg) [Open image](https://sms4smile.com/quotes/i/3b2/annie-duke-58716_bet_there-is-always-opportunity-cost-in-choo_1658411.jpg) > ““There is always opportunity cost in choosing one path over others. The betting elements of decisions—choice, probability, risk, etc.—are more obvious in some situations than others. Investments are clearly bets. A decision about a stock (buy, don’t buy, sell, hold, not to mention esoteric investment options) involves a choice about the best use of financial resources. Incomplete information and factors outside of our control make all our investment choices uncertain. We evaluate what we can, figure out what we think will maximize our investment money, and execute. Deciding not to invest or not to sell a stock, likewise, is a bet. These are the same decisions I make during a hand of poker: fold, check, call, bet, or raise.”” [Annie Duke](https://sms4smile.com/quotes/author/annie-duke/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Every decision involves trade‑offs and uncertainty; we must weigh potential gains against hidden costs and risks. **In simple terms:** Choices have hidden costs and risk. Key Takeaway Recognize and evaluate hidden costs. Themes decision‑making risk uncertainty opportunity cost Mood analytical reflective Type advice philosophical When to use this quote - investment choices - stock trading - poker strategy - business planning Key Concepts probability expected value behavioral economics Questions to Reflect On - How do you identify hidden costs in daily choices? - What strategies reduce bias in uncertain decisions? A Different Perspective Risk assessment can be limited by cognitive biases and incomplete data. ★ ★ ★ ★ ★ No ratings yet [Bet](https://sms4smile.com/quotes/about/bet/) [Bet Decisions](https://sms4smile.com/quotes/about/bet-decisions-731271/) [Bets Decision](https://sms4smile.com/quotes/about/bets-decision-731272/) [Betting](https://sms4smile.com/quotes/about/betting/) [Choice](https://sms4smile.com/quotes/about/choice/) [Control](https://sms4smile.com/quotes/about/control/) [Decision](https://sms4smile.com/quotes/about/decision/) [Decision making](https://sms4smile.com/quotes/about/decision-making/) [Decisions Choice](https://sms4smile.com/quotes/about/decisions-choice-731273/) [Incomplete information](https://sms4smile.com/quotes/about/incomplete-information/) [Invest](https://sms4smile.com/quotes/about/invest/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment Choices](https://sms4smile.com/quotes/about/investment-choices-731274/) [Maximize](https://sms4smile.com/quotes/about/maximize/) [Opportunity cost](https://sms4smile.com/quotes/about/opportunity-cost/) [Path](https://sms4smile.com/quotes/about/path/) [Probability](https://sms4smile.com/quotes/about/probability/) [Risk](https://sms4smile.com/quotes/about/risk/) [Uncertain](https://sms4smile.com/quotes/about/uncertain/) ## Related quotes > [You are what you are today,because of the decisions and choice you made yesterday.](https://sms4smile.com/quotes/ally-mbululo/you-are-what-you-are-today-because-of-the-decisions-and-choice-you/) [Ally Mbululo](https://sms4smile.com/quotes/author/ally-mbululo/) > [If decisions were a choice between alternatives, decisions would come easy. Decision is the selection and formulation of alternatives.](https://sms4smile.com/quotes/kenneth-burke/if-decisions-were-a-choice-between-alternatives-decisions-would-come/) [Kenneth Burke](https://sms4smile.com/quotes/author/kenneth-burke/) > [“heuristics are simple, efficient rules—either hard-wired in our brains or learned—that kick in especially when we're facing problems with incomplete information.”](https://sms4smile.com/quotes/david-disalvo/heuristics-are-simple-efficient-rules-either-hard-wired-in-our-brains/) [David DiSalvo](https://sms4smile.com/quotes/author/david-disalvo/) > [“An astronaut is someone who’s able to make good decisions quickly, with incomplete information, when the consequences really matter.”](https://sms4smile.com/quotes/chris-hadfield/an-astronaut-is-someone-who-s-able-to-make-good-decisions-quickly-2/) [Chris Hadfield](https://sms4smile.com/quotes/author/chris-hadfield/) > [Both poker and investing are games of incomplete information. You have a certain set of facts and you are looking for situations where you…](https://sms4smile.com/quotes/david-einhorn/both-poker-and-investing-are-games-of-incomplete-information-you-have/) [David Einhorn](https://sms4smile.com/quotes/author/david-einhorn/) > [“An astronaut is someone who’s able to make good decisions quickly, with incomplete information, when the consequences really matter. I didn’t miraculously become one…](https://sms4smile.com/quotes/chris-hadfield/an-astronaut-is-someone-who-s-able-to-make-good-decisions-quickly/) [Chris Hadfield](https://sms4smile.com/quotes/author/chris-hadfield/) > [“Your feelings do not lie to you; however, they may be based upon a false thought,or a true thought, or based upon incomplete information.”](https://sms4smile.com/quotes/david-w-earle-lpc/your-feelings-do-not-lie-to-you-however-they-may-be-based-upon-a/) [David W. Earle LPC](https://sms4smile.com/quotes/author/david-w-earle-lpc/) > [Each of us has a Soul. But no one has stopped to tell us what the Soul is in the world to do. Or…](https://sms4smile.com/quotes/neale-donald-walsch/each-of-us-has-a-soul-but-no-one-has-stopped-to-tell-us-what-the-soul/) [Neale Donald Walsch](https://sms4smile.com/quotes/author/neale-donald-walsch/) > [“There is risk, known and unknown, in all aspects of life. We often consider the loss of life the only serious risk. Unless we…](https://sms4smile.com/quotes/mark-twight/there-is-risk-known-and-unknown-in-all-aspects-of-life-we-often/) [Mark Twight](https://sms4smile.com/quotes/author/mark-twight/) > [If sometimes you feel away from reaching a solution remember, there are always two sides of a situation, and we probably have incomplete information.](https://sms4smile.com/quotes/senoraroy/if-sometimes-you-feel-away-from-reaching-a-solution-remember-there/) [Senoraroy](https://sms4smile.com/quotes/author/senoraroy/) > [Remembering That: Your have been right to doubt the abilities of someone But on the basis of incomplete information to act out this you…](https://sms4smile.com/quotes/mak-786/remembering-that-your-have-been-right-to-doubt-the-abilities-of/) [Mak\_786](https://sms4smile.com/quotes/author/mak-786/) > [“work can bounce between teams endlessly due to incomplete information, or work can be passed onto downstream work centers with problems that remain completely…](https://sms4smile.com/quotes/gene-kim/work-can-bounce-between-teams-endlessly-due-to-incomplete-information/) [Gene Kim](https://sms4smile.com/quotes/author/gene-kim/) > [“Isn’t that wonderful? That feeling of not knowing too much about something… Incomplete information… Endless possibilities… When you don’t know much about something, it’s…](https://sms4smile.com/quotes/erol-ozan/isn-t-that-wonderful-that-feeling-of-not-knowing-too-much-about/) [Erol Ozan](https://sms4smile.com/quotes/author/erol-ozan/) > [“Time matters most when decisions are irreversible. And yet many irreversible decisions must be made on the basis of incomplete information.”](https://sms4smile.com/quotes/peter-l-bernstein/time-matters-most-when-decisions-are-irreversible-and-yet-many/) [Peter L. Bernstein](https://sms4smile.com/quotes/author/peter-l-bernstein/) > ['Remember that you have no rights to doubr the abilities of someone on the basis of incomplete information, if you do you will feel…](https://sms4smile.com/quotes/mak-786/remember-that-you-have-no-rights-to-doubr-the-abilities-of-someone-on/) [Mak\_786](https://sms4smile.com/quotes/author/mak-786/) ## More by Annie Duke > [My two daughters are now engaged in a scribbling rivalry.](https://sms4smile.com/quotes/annie-duke/my-two-daughters-are-now-engaged-in-a-scribbling-rivalry/) [Annie Duke](https://sms4smile.com/quotes/author/annie-duke/) > [When you're moaning, all you are doing is focusing on things that were not in your control, at least you are not exploring whether…](https://sms4smile.com/quotes/annie-duke/when-you-re-moaning-all-you-are-doing-is-focusing-on-things-that-were/) [Annie Duke](https://sms4smile.com/quotes/author/annie-duke/) > [In rock, paper, scissors the key is, and this is the best piece of advice that I can give you, if you do think…](https://sms4smile.com/quotes/annie-duke/in-rock-paper-scissors-the-key-is-and-this-is-the-best-piece-of/) [Annie Duke](https://sms4smile.com/quotes/author/annie-duke/) > [My number one tip is always to play tight. From my experience, most new players play about 80% of the hands they are dealt…](https://sms4smile.com/quotes/annie-duke/my-number-one-tip-is-always-to-play-tight-from-my-experience-most-new/) [Annie Duke](https://sms4smile.com/quotes/author/annie-duke/) [Explore all 5 Annie Duke quotes ](https://sms4smile.com/quotes/author/annie-duke/) ## More Bet quotes > [Carlo Ancelotti wanted me in Madrid and had bet on me.](https://sms4smile.com/quotes/toni-kroos/carlo-ancelotti-wanted-me-in-madrid-and-had-bet-on-me/) [Toni Kroos](https://sms4smile.com/quotes/author/toni-kroos/) > [There are many roads to journalism. 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But Jerry had a voice.…](https://sms4smile.com/quotes/warren-littlefield/when-we-developed-the-seinfeld-show-we-took-a-bet-on-jerry-seinfeld/) [Warren Littlefield](https://sms4smile.com/quotes/author/warren-littlefield/) > [I bet you my body is three-quarters Red Bull.](https://sms4smile.com/quotes/charlamagne-tha-god/i-bet-you-my-body-is-three-quarters-red-bull/) [Charlamagne tha God](https://sms4smile.com/quotes/author/charlamagne-tha-god/) > [I don't bet against really good players.](https://sms4smile.com/quotes/george-kittle/i-don-t-bet-against-really-good-players/) [George Kittle](https://sms4smile.com/quotes/author/george-kittle/) > [I've got to have a bet going in order to play my best.](https://sms4smile.com/quotes/bobby-riggs/i-ve-got-to-have-a-bet-going-in-order-to-play-my-best/) [Bobby Riggs](https://sms4smile.com/quotes/author/bobby-riggs/) > [I know it's sappy, but I bet there's a market for civility and niceness out there that, while probably not as titillating as a…](https://sms4smile.com/quotes/steven-weber/i-know-it-s-sappy-but-i-bet-there-s-a-market-for-civility-and/) [Steven Weber](https://sms4smile.com/quotes/author/steven-weber/) > [I've never bet in a casino; it's just not something I do.](https://sms4smile.com/quotes/alan-pardew/i-ve-never-bet-in-a-casino-it-s-just-not-something-i-do/) [Alan Pardew](https://sms4smile.com/quotes/author/alan-pardew/) > [Growing up in Britain as a rather loose Jew, the two things that didn't belong together were freedom and religious intensity. In America, they…](https://sms4smile.com/quotes/simon-schama/growing-up-in-britain-as-a-rather-loose-jew-the-two-things-that-didn/) [Simon Schama](https://sms4smile.com/quotes/author/simon-schama/) > [I bet on my team to win every night because I love my team; I believe in my team. I did everything in my…](https://sms4smile.com/quotes/pete-rose/i-bet-on-my-team-to-win-every-night-because-i-love-my-team-i-believe/) [Pete Rose](https://sms4smile.com/quotes/author/pete-rose/) > [“How many beers do y'all think it takes before one internationally scientist turns to another and says, 'Dude, bet you twenty bucks I can…](https://sms4smile.com/quotes/robyn-schneider/how-many-beers-do-y-all-think-it-takes-before-one-internationally/) [Robyn Schneider](https://sms4smile.com/quotes/author/robyn-schneider/) > [On the practice green, I hit a lot of four-footers with my right hand only. But whatever grip I'm using, you can bet I'm…](https://sms4smile.com/quotes/louis-oosthuizen/on-the-practice-green-i-hit-a-lot-of-four-footers-with-my-right-hand/) [Louis Oosthuizen](https://sms4smile.com/quotes/author/louis-oosthuizen/) > [Shaun White and Danny Kass were obsessed with trading Olympic pins. I bet they can say 'pin' in every language.](https://sms4smile.com/quotes/hannah-teter/shaun-white-and-danny-kass-were-obsessed-with-trading-olympic-pins-i/) [Hannah Teter](https://sms4smile.com/quotes/author/hannah-teter/) > [I bet on baseball in 1987 and 1988.](https://sms4smile.com/quotes/pete-rose/i-bet-on-baseball-in-1987-and-1988/) [Pete Rose](https://sms4smile.com/quotes/author/pete-rose/) [Browse all 113 Bet quotes ](https://sms4smile.com/quotes/about/bet/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“There is always opportunity cost in choosing one path over others. 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