Algorithms to Live By: The Computer Science of Human Decisions
Second, Pascal’s Wager. You begin with something that’s obvious. But because it’s hard to accept, you have to keep reminding yourself: We don’t know what’s going to happen with anything, ever, over any period. And so it’s inevitable that a certain percentage of our decisions will be wrong. There’s just no way we can always make the right decision. ... See more
jasonzweig • A (Long) Chat with Peter L. Bernstein
- Increasing perversion of certain business models that are liable to be gamed or constrained by AI : We’re shifting from a world where data analysis required long cycles (analysts need lots of time to run queries, analyze, and then present findings in a way that people understand) to a new world of real-time optimization and insights (AI will mine
Scott Belsky • Strange Ways AI Disrupts Business Models, What’s Next For Creativity & Marketing, Some Provocative Data
Economics 101 teaches that trading is rational only when it makes both parties better off. A baseball team with two good shortstops but no pitching trades one of them to a team with plenty of good arms but a shortstop who’s batting .190. Or an investor who is getting ready to retire cashes out her stocks and trades them to another investor who is j
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