What is Action Bias?
There are times people have an impulse to act in order to gain a sense of control over a situation and we focus on the benefits of action and ignore the costs. This term has been named Action Bias.
What is Action Bias?
There are times people have an impulse to act in order to gain a sense of control over a situation and we focus on the benefits of action and ignore the costs. This term has been named Action Bias.
For those who want some perspective on what we do and don’t know about statistics as it’s applied to real-world problems Silver’s book is an interesting read and provides actionable ways to implement prediction techniques to makes better decisions.