When a Simple Rule of Thumb Beats a Fancy Algorithm
Harvard Business
OCTOBER 2, 2014
Starting in the late 1980s , academic researchers began to develop sophisticated predictive techniques to answer that question. Gerd Gigerenzer , director at the Max Planck Institute for Human Development in Berlin, has been making the case for decades that heuristics often outperform statistical models. Ergo: heuristics win.
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