(no subject)

[timelets]

A good example about the relationship between information and allocation:

“Imagine you’re stepping on a traditional medical scale. It has two weight bars, one with notches at fifty-pound intervals and the other with notches at one-pound intervals. This allows the user to measure their weight down to the pound. What would happen if your doctor used a scale with only one bar with just two notches, one at fifty pounds and one at five hundred pounds, with no way to measure anything in between? Good luck getting medical advice after the person weighing you writes one or the other on your chart. You could only be morbidly obese or severely underweight. It would be impossible to make good decisions about your weight with such a poor model.

The same holds true for just about all of our decisions. If we misrepresent the world at the extremes of right and wrong, with no shades of grey in between, our ability to make good choices—choices about how we are supposed to be allocating our resources, what kind of decisions we are supposed to be making, and what kind of actions we are supposed to be taking—will suffer.”

--- Annie Duke. “Thinking in Bets.”