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... »
Archive for June, 2011
Car Insurance and an Ear Full of Cider
Thursday, June 30th, 2011
Tags: decision theory,
economics,
efficient markets,
fallacies,
insurance,
marlon brando,
no-trade theorem,
rationality,
wagers
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About
Daniel Reeves is a co-founder of
Beeminder and
Sharad Goel is a Senior Researcher
at
Microsoft Research - New York City. They are both former members of the Microeconomics and Social
Systems (MESS) Group at Yahoo! Research.
Kelly Savage illustrates the
blog.
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