Collecting data is time-consuming and expensive. Value of Information, VoI, (en.wikipedia.org/wiki/Value_of_information) can give you an idea of whether to collect. If perfect information (VoPI) will not change your mind, then there is no point in collecting even imperfect information (lesswrong.com/posts/vADtvr9iDeYsCDfxd/value-of-information-four-examples). Often, it is easier to work up perfect information, so you would not want to spend more than the VoPI. Is this something you use in your work? Do you have other ideas on what and how much data to collect?
Base rates are still based on surveys, so part of data hygiene is using base rates but also doing data hygiene on those base rates. They should be based on the target population they are named for and have confidence intervals. A humorous, simple book for data hygiene is "How to Lie with Statistics" (goodreads.com/book/show/51291.How_to_Lie_with_Statistics) by Darrell Huff (effortmark.co.uk/avoid-how-to-lie-with-statistics/)
As a Nasdaq Futures trader, I constantly feel myself betting... with myself. I know my trading rules (only trade at specific times of day, limit my trading size, only enter a trade on specific conditions), and yet every single day I hear myself saying "this opportunity looks good, you should take it even though it goes against your rules... trust me, it's worth the risk!" And then I lose money. I just cannot figure out how to stop doing that! How to stop being lured by the feeling that my "now me" is the smartest me there is. Do I just have to accept it's part of my wiring, that I lack self-control, and I'm never going to change?
I created a series of questions for scoring an early stage investment as I learned about in our class on Maven. One stakeholder gave the following feedback: for bunch of questions i did not have any info/context/answer, and there was no n/a or don’t know option.
Collecting data is time-consuming and expensive. Value of Information, VoI, (en.wikipedia.org/wiki/Value_of_information) can give you an idea of whether to collect. If perfect information (VoPI) will not change your mind, then there is no point in collecting even imperfect information (lesswrong.com/posts/vADtvr9iDeYsCDfxd/value-of-information-four-examples). Often, it is easier to work up perfect information, so you would not want to spend more than the VoPI. Is this something you use in your work? Do you have other ideas on what and how much data to collect?
Base rates are still based on surveys, so part of data hygiene is using base rates but also doing data hygiene on those base rates. They should be based on the target population they are named for and have confidence intervals. A humorous, simple book for data hygiene is "How to Lie with Statistics" (goodreads.com/book/show/51291.How_to_Lie_with_Statistics) by Darrell Huff (effortmark.co.uk/avoid-how-to-lie-with-statistics/)
As a Nasdaq Futures trader, I constantly feel myself betting... with myself. I know my trading rules (only trade at specific times of day, limit my trading size, only enter a trade on specific conditions), and yet every single day I hear myself saying "this opportunity looks good, you should take it even though it goes against your rules... trust me, it's worth the risk!" And then I lose money. I just cannot figure out how to stop doing that! How to stop being lured by the feeling that my "now me" is the smartest me there is. Do I just have to accept it's part of my wiring, that I lack self-control, and I'm never going to change?
I created a series of questions for scoring an early stage investment as I learned about in our class on Maven. One stakeholder gave the following feedback: for bunch of questions i did not have any info/context/answer, and there was no n/a or don’t know option.
What would be your response to that?
What is your anticipated cadence for the Decision Education Podcast?
Do you have a reading list of books you recommend?