The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.

Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.

We act like a zero-sum society, when in reality there is a lot of non zero-sum fat to be skimmed off to everyone's mutual advantage.

A final word of advice: don't gloat about how well you have done.

There is no shortage of disputes.

The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.

The party that negotiates in haste is often at a disadvantage.