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Don’t estimate probabilities, but ask: ‘What is really going on here?’

Don’t estimate probabilities, but ask: ‘What is really going on here?’

John Kay and Mervin King – Radical Uncertainty

Economists should stay away from pseudo-philosophical assertions, in particular when these hinge on misinterpretation of Bayesian methods, use flawed logic, and do not lead to realistic recommendations.

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Copyright © 2025 Pepijn van der Laan.
All rights reserved.