by AdamB » Tue 29 Mar 2022, 15:44:23
$this->bbcode_second_pass_quote('Newfie', 'R')E: Accuracy of Pundits
This is addressed in the book Thinking Fast and Slow, but not in detail.
Bottom line conclusions…..
Professionals may actually know better but frequently make emotion guided mistakes. So if a pro programs a computer it does pretty good, better than the pro.
Pundits, on average, do a wee bit worse than Joe 6 Pack.
So was the book focused on professional pundits, like scientists, making these mistakes because of emotion, or are are we talking about more of the talking bobble head instant experts perhaps never worked in the industry in their lives type pundits?
As just one example, I used to drill horizontal wells. So when I speculate on the doing of it, the theory and practice, the results, timing, sequencing and costs, these decades later, is that punditry on the engineering, physics and mechanics of the system, this book explains how I will out-pundited by a less emotionally involved (and thoroughly inexperienced) Joe Sixpack?
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"