Run It Twice
After an all-in the remaining cards are dealt twice, and half the pot is played out on each run-out. The expectation does not change; the spread shrinks.
Run It Twice is two run-outs instead of one. All the money is in, the cards are open, nothing is left to decide, and instead of dealing the remaining cards once, they are dealt twice. Half the pot goes by the first run-out, half by the second. You can win both, one, or neither.
EV does not change by a cent: the hand's share in each run-out is the same as it would be in one. What changes is the spread. With an 82% share one run-out gives either the whole pot or nothing; two run-outs give half more often, and the session strays from its expectation by a hundred dollars less often. It is insurance against variance that costs nothing, and there is no reason to decline it.
An example from session 3
A♠A♦ against K♥K♦, all the money in before the flop. Run twice, both run-outs mine, plus $118 against an EV of plus $75. In session 11 the same two run-outs cut the other way: A♥A♠ against J♣J♦ with a 92% share took one run-out of two, minus $1.50 against an EV of plus $117. In both hands the second run-out changed no decision, only the amount.
The same in business
Run It Twice is free diversification of the outcome with the expectation unchanged: two pilots instead of one for the same money, two delivery dates, two launch countries. Expected profit does not grow, and selling such a decision as growth in expectation is wrong. But a company with two run-outs survives a bad year, and a company with one does not always.
The whole hand is in session 3: “Results and decision quality are kept in different books”.
The other terms are in the glossary.