Unforeseen Consequences in Data Science

Unforeseen Consequences in Data Science After the massive Exxon Valdez oil spill, states passed laws boosting the liability of tanker companies for future spills.  The result was not as intended: fly-by-night companies, whose bankruptcy would not be consequential, took over the trade. In this blog…

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Examples of Bad Forecasting

In a couple of days, theWall Street Journalwill come out with its November survey of economists' forecasts. It's a particularly sensitive time, with elections in a few days and President Trump attacking the Federal Reserve for for raising interest rates. It's a good time to…

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