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John Quiggin's avatar

A nice piece. A closely related point from econometrics is that there is a trade-off between bias and precision. For example, ridge regression is biased, but has lower variance than ordinary least squares.

Jazzme's avatar

PS

It was a very good read. Thank you and keep em coming

Jazzme's avatar

I'll try to take in what you're saying regarding ones biases and than try to be more analytical when I think my biases are kicking in. My biases set boundries of what I think are right choices I make.

If I'm not sure if my bias is the correct "choice" is there a set of questions I should ask myself to help me in coming to terms with a choice made? What questions should I be asking to make my biased choice less false and more or less the correct one