Malcolm Gladwells Blink + James Surowieckis The Wisdom Of Crowds

No Gravatar

&#8212-

What Do We Mean When We Talk About Intuition? – by James Surowiecki

[…] This suggests that the real challenge is figuring out which problems can be solved by rapid cognition and which are better solved by a calculating, rational approach. […]

Challenging the Standard Model of Decision-Making – by Malcolm Gladwell

[…] The war game that I write about, which was the most expensive and most elaborate war game ever conducted in history ($500 million dollars!), was a preview of the Iraq War. One side played the United States. Van Riper, essentially, played Saddam Hussein. And van Riper won, hands down, sinking half the U.S. Navy on the second day of the war. How did that happen? Because at the moment he attacked the U.S. Forces, they were so caught up in their computers and charts and systems analysis and complex matrixes that they had lost the ability to engage in the flexible, free-wheeling, instinctive thinking that is essential in the midst of battle. […]

The Virtues of Group Decision-Making – by James Surowiecki

[…] To me, that&#8217-s one of the (and maybe the) great virtues of collective decision-making: It doesn&#8217-t matter when an individual makes a mistake. As long as the group is diverse and independent enough, the errors get corrected and you&#8217-re left with the knowledge. […]

The Biases and Delusions of Experts – by Malcolm Gladwell

[…] My survey of Fortune 500 CEOs, as you mentioned, revealed that, with very few exceptions, they are almost all tall. Are CEOs chosen whimsically? Not at all. Committees spend weeks and months in deliberation. But at the end of the day they still end up overwhelmingly picking tall men. Deliberation makes us more confident in our decision. But I&#8217-m not sure it makes the decision itself more accurate and free of bias. […]

Which Information Really Does Matter? – by James Surowiecki

[…] I&#8217-ve thought for a while now that one of the reasons why the collective decision-making mechanisms I write about in my book—like, for instance, betting markets—work well is that in part they aggregate intuitions and impressions that people can&#8217-t necessarily articulate, but that are nonetheless real and valuable. […]

How To Improve the Decision-Making Environment – by Malcolm Gladwell

[…] For instance, one of the really interesting facts about police work is that an officer behaves much better—makes better decisions, fires his gun less frequently, has fewer complaints filed against him—when he is by himself than when he is paired with a partner. Officers on their own are far more cautious. Without the emboldening presence of a companion, they take far fewer risks. They don&#8217-t pick fights, or put themselves into nearly as many ambiguous or dangerous situations, because they know they have no one looking out for them. […]

INTRADE-TRADESPORTS: John Delaney LIED in his Freakonomics interview.

No Gravatar

That&#8217-s what tries to demonstrate event derivative trader &#8220-Vancheeswaran&#8221- in a comment on the Freakonomics blog post featuring a complacent interview of InTrade-TradeSports&#8217- John Delaney.

&#8212-

InTrade-TradeSports&#8217- John Delaney:

We listed a market on whether the U.S. Government would formally report that North Korea tested a missile in a certain manner. While the media reported that North Koreans did test a missile, it was not confirmed in an official U.S. Government release as was required in the market rules, so we settled the market according to the strict interpretation of the rules and not the understood intention of the market. This was understandably a real issue for some of our members and also for Intrade. It was a bad situation for everyone, really. We have learned from it.

Event derivative trader &#8220-Vancheeswaran&#8221-:

BULLSHIT.

Bryan Whitman ([email protected]) explicitly stated in print, in press conferences, and by email that North Korea fired multiple missiles into the Sea of Japan.

For instance, “North Korea fired a long-range Taepodong-2 missile and six short- and medium-range Scud and Nodong missiles. All landed in the Sea of Japan without incident.”

National Security Advisor Stephen Hadley, in a press conference at the White House, stated that the missiles “went out about 275 miles” into the Sea of Japan.
http://www.whitehouse.gov/news/releases/2006/07/20060704-1.html

There are many other examples of the U.S. military and government (not just the press) confirming that the missiles were launched and approximately where they landed.

John Delaney is completely misrepresenting what happened, just as he did at the time of the launches.

As I wrote last week, I will have my say on this Freakonomics interview. Stay tuned, folks.