“Law of Small Numbers Redux” – Mark Blessington & Karl Hellman

January 2, 2017 Christian Sarkar

In their famous article that contributed a great deal to an eventual Nobel Prize in Economics, Amos Tversky and Daniel Kahneman presented their discovery that people, including noted experts in statistics and probability theory, often exaggerate the validity of conclusions derived from small sample sizes. [i] The article, Belief in the Law of Small Numbers, poked […]

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