Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty

The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty

Savage, Sam L.
Danziger, Jeff
Markowitz, Harry M.

Paperback

EconomicsInvesting & Finance

Publisher Price: $23.00

ISBN10: 1118073754
ISBN13: 9781118073759
Publisher: Wiley
Published: Mar 26 2012
Pages: 416
Weight: 1.10
Height: 1.10 Width: 5.90 Depth: 8.90
Language: English
A must-read for anyone who makes business decisions that have a major financial impact.

As the recent collapse on Wall Street shows, we are often ill-equipped to deal with uncertainty and risk. Yet every day we base our personal and business plans on uncertainties, whether they be next month's sales, next year's costs, or tomorrow's stock price. In The Flaw of Averages, Sam Savage-known for his creative exposition of difficult subjects- describes common avoidable mistakes in assessing risk in the face of uncertainty. Along the way, he shows why plans based on average assumptions are wrong, on average, in areas as diverse as healthcare, accounting, the War on Terror, and climate change. In his chapter on Sex and the Central Limit Theorem, he bravely grasps the literary third rail of gender differences.

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