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Bayesian Decision Making

Statistical Soothsaying

Michael R. Powers | Posted 09.01.2012 | Business
Michael R. Powers

Many years ago, in my college yearbook, I listed my intended future occupation as "Bayesian soothsayer." In retrospect, I can see that my invented profession served its purposes well; but strangely enough, I now realize that it actually exists.

Your Inner Statistician, Revisited: A You-Centered View Of Medical Testing

David Katz, M.D. | Posted 10.24.2011 | Healthy Living
David Katz, M.D.

Many doctors, particularly young doctors, come to view test results as if handed down direct from the heavens -- and forget that context greatly alters their implications. It shouldn't be your burden to defend against this -- but alas, it is.

Reforming Regulatory Benefit-Cost Analysis

Mark Kleiman | Posted 05.25.2011 | Business
Mark Kleiman

The benefit-cost analysis practiced in the regulatory process - what I teach my students to call "forensic" benefit-cost - differs in three ways from ideal, or armchair, benefit-cost.