"Where there is no vision, the people perish: but he that keepeth the law, happy is he."
-- Proverbs 29:18, King James Bible (KJV)

Thursday, August 11, 2016

Experts are Inferior to Algorithms: That's What the EMPIRICAL Evidence Tells Us: Experts Like Complexity: Algorithms Prefer Simplicity : Simple Combinations of Features Are Better

In Statistics vs. Judgment at DelanceyPlace.com, August 11, 2016, Richard Vague focuses on the book Thinking Fast and Slow by Daniel Kahneman,
summarizing an excerpted section that deals with the work of Paul Meehl.

Vague writes:
"In today's encore selection -- from Thinking, Fast and Slow by Daniel Kahneman. Statistics versus judgment. In his book Clinical vs. Statistical Prediction: A Theoretical Analysis and a Review of the Evidence, psychoanalyst Paul Meehl gave evidence that statistical models almost always yield better predictions and diagnoses than the judgment of trained professionals. In fact, experts frequently give different answers when presented with the same information within a matter of a few minutes...."