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Monday, November 23, 2009

The flaw of averages : why we underestimate risk in the face of uncertainty

by Sam L. Savage. “Statistical uncertainties are pervasive in decisions we make every day in business, government, and our personal lives. Sam Savage’s lively and engaging book gives any interested reader the insight and the tools to deal effectively with those uncertainties. I highly recommend The Flaw of Averages.”—William J. Perry, Former U.S. Secretary of Defense
“Enterprise analysis under uncertainty has long been an academic ideal. . . . In this profound and entertaining book, Professor Savage shows how to make all this practical, practicable, and comprehensible.”—­Harry Markowitz, Nobel Laureate in Economics (Check Catalog)