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The Signal and the Noise
Book Club 2013
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March 2013 - The Signal and the Noise
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I'm a month late getting a start on reading this book. I am finding it to be excellent. It is very well written. Each chapter is fascinating. Unfortunately, we didn't get much discussion about it.

I finally finished the book. I think it's fantastic. The second half of the book emphasizes the usefulness of Bayes Theorem--which I think is quite appropriate. I use Bayes Theorem on a daily basis; while it is mathematically simple, it sometimes seems to work "like magic". Here is my review.

Of course, the people that need to hear that message are those in the soft sciences, and it's going to be a long road. There's very little accountability in fields like economics, psychology, and sociology, where the inability to replicate a result is understandably difficult (because of the vast noise and tiny signal).
I think it's interesting he didn't count himself as one of the people who, like weather correspondents, tend to understate his predictions. He predicted every state correctly in the last two presidential elections, and with his own stated probabilities, was incredibly lucky to do so. Unbelievably lucky. So much so, that I think we can say his probabilities were understated.

I loved Silver's point about the unreliability of most journal articles. One area in which the reliability problem shows up clearly is in studies of the (unproved) deterrent effect of the death penalty. After reading them all, the only thing that is clear is that we have no idea whether the death penalty has a deterrent effect or not, yet these "scientific" articles are used by proponents to "prove" the necessity of retaining the death penalty.

I agree. I wasn't planning to read this because it's long and I already can't keep up and after all ... statistics?! But it's sounding more and more interesting.
And with the Reinhart & Rogoff flap, I'm rethinking my interest in statistical analysis.
And with the Reinhart & Rogoff flap, I'm rethinking my interest in statistical analysis.

That's true enough, I guess, but I think biology/chemistry/physics conclusions that are wrong and reversed are a matter of years, not decades. And there is a lot less noise in studies that don't include human behavior.

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