Over what journalists tell you. Makes sense to me, although the argument dilutes the notion you should put all your trust in “information” and “data points.” But who would be so stupid to do that?
First-Hand Experience is Less Biased Than News - Econlib
One of the first lessons you learn in statistics is to discount first-hand experience. “But I knew a guy who…” is weak evidence, for a long list of reasons: 1. Random error. When you only sample one person – yourself – there’s immense random error. The noise can easily drowns the signal. 2...
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