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Currents 063: Jessica Flack on nth-Order Effects of the Russia-Ukraine War

The Jim Rutt Show

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Second Order Effects

A lot of times we're making assessments of outliers, and we haven't realized that the underlying distribution isn't the same any longer. The way i think about second order effacts is, it's just it'. It's an effect that depends on something else happening first, right? So it's its kind of like e result of joint probability distribution. But it's important not to confuse a second order effect with a longer term first order effect.

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