In The 37 Percent Rule, the basic idea is that you have a series of candidates you are interviewing for the role of secretary (this thought experiment originated in the 1950s). You interview each candidate one by one and must decide on the spot if you will stop your search there and hire the candidate. … Read more
One of the important ways in which modern people differ from ancient people, is that modern society has mastered risk. That is not to say that each individual has mastered risk, but that each individual has at their disposable extremely powerful tools, passed down from great thinkers, that allows them to understand risk better than … Read more
1. Nash Equilibrium Each person in a group makes the optimal decision for himself, based on what he thinks others will do. And nobody can improve their choice by changing it. In the Movie ‘A Beautiful Mind’, John Nash played by Russell Crowe tries to explain game theory differently. He is at a bar with … Read more