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In: The American economist: journal of the International Honor Society in Economics, Omicron Delta Epsilon, Band 55, Heft 2, S. 5-13
ISSN: 2328-1235
In: Samuelsonian Economics and the Twenty-First Century, S. 252-261
In: The American economist: journal of the International Honor Society in Economics, Omicron Delta Epsilon, Band 37, Heft 1, S. 3-9
ISSN: 2328-1235
In: Journal of economics and business, Band 42, Heft 2, S. 99-103
ISSN: 0148-6195
In: Naval research logistics: an international journal, Band 4, Heft 1, S. 87-88
ISSN: 1520-6750
In: Journal of risk and uncertainty, Band 13, Heft 3, S. 221-247
ISSN: 1573-0476
In: Variations in Economic Analysis, S. 61-69
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 Savageknown 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