Really good explanation of it. One assumption you would have to include in this is that the consequences to your choices are ergodic and don't contain ruin events?
In this case, if you walked a bit too far in one direction at night you never get the chance to turn around because you get eaten by wolves or some such problem.
if one gets the information 'after the fact' (taking one of the roads) > with the example of 2 roads, what decision is there to make but to simply take the other road. with the example of only 2 roads; it is still decision making under uncertainity; kind of retrospective distortion
- SOSH; highly doubt if anything can be determistic, it is mostly probabilistic and expectation (=probability x payoff). Even if it works, it is simply the role of luck
- WOSH; is probably the case of blindly copying what others do (like say; the competition) without even putting that into the context and appropriate situations
- WOWH; is typically the playbook/best proactices culture without any case by case thinking as required/necessary. this could also be the case of bad/not data-driven, inspite of having the data/information (essentially lazy thinking)
Heard this repeatedly at Amazon. One of the huge benefits of SOWH is that you are constantly looking for data / evidence and you follow the evidence. Its a simple concept to explain, but extremely difficult to implement consistently and at scale, something that Amazon excelled at.
Really good explanation of it. One assumption you would have to include in this is that the consequences to your choices are ergodic and don't contain ruin events?
In this case, if you walked a bit too far in one direction at night you never get the chance to turn around because you get eaten by wolves or some such problem.
https://medium.com/incerto/the-logic-of-risk-taking-107bf41029d3
Great article! I can say from experience that it applies equally to scientists too.
if one gets the information 'after the fact' (taking one of the roads) > with the example of 2 roads, what decision is there to make but to simply take the other road. with the example of only 2 roads; it is still decision making under uncertainity; kind of retrospective distortion
- SOSH; highly doubt if anything can be determistic, it is mostly probabilistic and expectation (=probability x payoff). Even if it works, it is simply the role of luck
- WOSH; is probably the case of blindly copying what others do (like say; the competition) without even putting that into the context and appropriate situations
- WOWH; is typically the playbook/best proactices culture without any case by case thinking as required/necessary. this could also be the case of bad/not data-driven, inspite of having the data/information (essentially lazy thinking)
Heard this repeatedly at Amazon. One of the huge benefits of SOWH is that you are constantly looking for data / evidence and you follow the evidence. Its a simple concept to explain, but extremely difficult to implement consistently and at scale, something that Amazon excelled at.