When a Simple Rule of Thumb Beats a Fancy Algorithm
Harvard Business
OCTOBER 2, 2014
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. “In general, if you are in an uncertain world, make it simple,” Gigerenzer said when I interviewed him earlier this year. Ergo: heuristics win.
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