Value of Information to learn the concept plus modeling in SIPmath #decisionscience, #decisionmaking, #sipmath, #brianputt

Value of Information to learn the concept plus modeling in SIPmath

Discusses the decision of whether to buy an umbrella or to gather information before doing so. Discusses the results and also the sensitivity of the decision…

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Do you too get a sense that McKinsey have never heard about monte-carlo simulations? The answer is not a better deterministic model, the answer is a stochastic model )

Demystifying modeling: How quantitative models can–and can’t–explain the world

The COVID-19 crisis has brought quantitative models to the forefront. Here are some ways that modeling helps us–as long as we avoid its pitfalls.

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