The college admissions admission

We’re not really sure on the origin of Hanlon’s Razor, but the speculation (via Wikipedia) is Robert Heinlein’s (Heinlein ->Hanlon) story, Logic of Empire, “The character ‘Doc’ in Heinlein’s story described the ‘devil theory’ fallacy, explaining, ‘You have attributed conditions to villainy that simply result from stupidity.’” I’d remember it more and confuse it less … Continue reading The college admissions admission

Reviews then pics

Academic work can sometimes be inefficient. For example, people prefer to book hotels with nice pictures. Go figure. In the paper, The role of photograph aesthetics on online review sites, the authors conclude that, “photos with professional aesthetics make a depicted destination appear more visually appealing, ultimately driving booking intentions.” Makes sense. However, within this … Continue reading Reviews then pics

Solve for the Equilibrium: Marathon Lottery

When supply equals demand—in economic models, not Alchemy—the price is calculated, equilibrium is achieved, and angels sing. What economists do we aren’t sure. Rarely does this work because value is subjective. Our relativistic nature is seen when it’s less grating for a CEO to make 100 times their employees than for a peer to make … Continue reading Solve for the Equilibrium: Marathon Lottery

Collaboration on Optimal Designs

One important thing Rory Sutherland’s book Alchemy did was remind people about the importance of subjectivity. In her talk, Balancing Order and Chaos in UX, Katie Dill (Lyft, Airbnb) talks about how Virgin Atlantic made people feel different even though their seats are the same size and material. Mohnish Pabrai said something similar about Southwest, … Continue reading Collaboration on Optimal Designs