Tag Archive
The Irrationality of Rationing
More than two weeks after the largest Atlantic hurricane on record hit the Eastern Seaboard, the bridges and tunnels have opened, the subways are running, and a degree of normalcy has succeeded the initial panic and confusion. But the gas lines persist. In an effort to shorten these sometimes absurdly long lines, New Jersey Governor... »
(More Than) A Penny Saved is a Penny Wasted, In Which I Trivialize the Entire Industry of Financial Planning
Prescript: This article is by popular demand, having won our meta poll at the beginning of the year. I predict three categories of reactions to it: (1) This is obvious. (2) This is obviously wrong. (3) This is just the rationalization I needed to keep doing what I’m doing! If there’s a fourth category... »
Car Insurance and an Ear Full of Cider
Yesterday Decision Science News asked “Should you buy car insurance?” By which they mean collision insurance, liability insurance being required by law in these parts. I’m shocked and appalled that decision scientists could even ask such a thing. Actually, it’s a good question with some legitimate subtleties. I just happen to have an unreasonably strong opinion about... »
Ode to Power Laws
Anyone who knows me knows that I love power laws. What other distribution even comes close? The normal? Boring. Poisson? Too fishy. Hypergeometric? Ok, that one’s pretty cool, too. But still, power laws reign supreme in my mind. Evidence of the mystical power of power laws is found by simply looking at references to “power laws”... »
Twelve Years Ago
I got the following email today, sent from myself exactly 12 years ago. A University of Michigan alum was looking for people to join his new startup. I was a little bit tempted by it, but instead just forwarded it to my future self in anticipation of the "prototype" he was pitching... »
