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Most theoretical analyses of risky choices depict each option as a gamble that can yield various outcomes with different probabilities. [2] Widely accepted risk-aversion theories, including Expected Utility Theory (EUT) and Prospect Theory (PT), arrive at risk aversion only indirectly, as a side effect of how outcomes are valued or how probabilities are judged. [3]
Social cryptomnesia, a failure by people and society in general to remember the origin of a change, in which people know that a change has occurred in society, but forget how this change occurred; that is, the steps that were taken to bring this change about, and who took these steps. This has led to reduced social credit towards the minorities ...
Ashby (1960, section 11/5) offers three simple strategies for dealing with the same basic exercise-problem, which have very different efficiencies. Suppose a collection of 1000 on/off switches have to be set to a particular combination by random-based testing, where each test is expected to take one second.
In another usage in statistics, normalization refers to the creation of shifted and scaled versions of statistics, where the intention is that these normalized values allow the comparison of corresponding normalized values for different datasets in a way that eliminates the effects of certain gross influences, as in an anomaly time series. Some ...
Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
To explain why something is a certain way, Aristotle believed one could simply say that it is trying to be what it ought to be. [9] On the contrary, David Hume believed one cannot get an ought from an is because no matter how much one thinks something ought to be a certain way it will not change the way it is.
In fact, the raters may have even thought that there was something wrong with the people expressing the alternative response. [3] In the ten years after the influential Ross et al. study, close to 50 papers were published with data on the false-consensus effect. [15] Theoretical approaches were also expanded.
Intrapersonal normality looks at what is normal behavior for one particular person (consistency within a person) and would be expected to vary person-to-person. [15] A mathematical model of normality could still be used for intrapersonal normality, by taking a sample of many different occurrences of behavior from one person over time.