Clearer Thinking with Spencer Greenberg Measuring everything that matters (with Doug Hubbard)
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May 22, 2024 Doug Hubbard, an expert in decision theory and risk analysis, discusses the art and science of measurement. He explains why measuring intangibles like love and financial decisions can enhance our understanding and outcomes. Hubbard addresses the common resistance to measurement and introduces the 'Value of Information' concept. He argues for the power of algorithms over human intuition in decision-making, while also emphasizing the necessity of calibration training to refine our predictive abilities. Tune in for insights that could transform how you approach decisions!
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Measurement as Uncertainty Reduction
- Measurement is a quantitative reduction of uncertainty based on observation, not exact counting.
- Anything that matters has observable consequences, making it measurable.
Measuring Love
- Doug Hubbard uses "love" as an example of a seemingly immeasurable concept.
- He argues that even love has observable consequences, making it quantifiable.
Indirect Measurement
- Measuring correlates of a thing is often as good as measuring the thing itself.
- All human experiences are indirect signals, similar to how scales indirectly measure weight.
