I'm here for the long run. One under estimated consequence of the recession to the mean is in reward and punishment. Take a sales force as an example. Top performer gets a bonus, but next month they don't do as well. Management thinks bonuses are a waste of money. Bottom performer gets a bollocking and the performance improves, so management think that is the way to improve performance. The same scenario posts out in schools and politics all the time.
I think Kahneman talks about this in Thinking Fast and Slow? But yes, I think it's another of those things that crops up all over the place when you start noticing it
Another long timer here! Your mathematical posts remind me so much of my love of maths at school - delivered via School Mathematics Project which, in my mind, linked maths to the real world - (although I’ve yet to meet an alien that doesn’t have 10 fingers and therefore the need to be able to count in different bases other than 10) . But I also like your more ‘observational ‘ posts where you talk so much sense- but maybe I’m following my own unconscious bias! Who knows!
I'm here for the long run. One under estimated consequence of the recession to the mean is in reward and punishment. Take a sales force as an example. Top performer gets a bonus, but next month they don't do as well. Management thinks bonuses are a waste of money. Bottom performer gets a bollocking and the performance improves, so management think that is the way to improve performance. The same scenario posts out in schools and politics all the time.
I think Kahneman talks about this in Thinking Fast and Slow? But yes, I think it's another of those things that crops up all over the place when you start noticing it
Another long timer here! Your mathematical posts remind me so much of my love of maths at school - delivered via School Mathematics Project which, in my mind, linked maths to the real world - (although I’ve yet to meet an alien that doesn’t have 10 fingers and therefore the need to be able to count in different bases other than 10) . But I also like your more ‘observational ‘ posts where you talk so much sense- but maybe I’m following my own unconscious bias! Who knows!
Thanks! I think I remember those books as well!!
Thanks for (another) interesting article. Nice to see various concepts written up in easy-to-digest language.
Thanks!