It Is Better to Be Vaguely Right Than Exactly Wrong
The original quote comes from Carveth Read and is. If this definition is.
John Maynard Keynes Quote Maynard Keynes Quotes Economics
There is a whole toolbox of qualitative foresight tools that range from horizon scanning to systems dynamics to scenario planning among various options.
. But as Keynes used to say It is better to be roughly right than precisely wrong. In Chapter 22 of Logic Read says. When applying deductivist thinking to economics economists usually set up as if models based on a set of tight axiomatic assumptions from which consistent and precise inferences are made.
A new approach to decision making in the petroleum exploration and production industry October 2008 AAPG Bulletin 92101373-1392. The Bank of Englands chief economist Andrew. The point is that we must be cognizant of these effects and not be hamstrung by our own fear that.
A version of those words came from an 18th century author named Carveth Read in a book on logic and reasoning. I would rather be vaguely right than precisely wrong. Chapter 8 Part 1 Confidence Intervals for a Population Mean It is better to be vaguely right than exactly wrong.
Mullins Amit M. This comes from the power of teamwork. It is better to be vaguely right than exactly wrong the original source of the much quoted aphorism It is better to be roughly right than exactly wrong that is often incorrectly attributed to John Maynard Keynes.
The better their view of the future the better their decisions--and the bigger their profitswill be. It is better to be roughly right than precisely wrong argued the legendary British economist John Maynard Keynes one of historys greatest thinkers. Thats the nature of complexity.
Felix Höflmayer Glassman Holland Research FellowIt is Better to Be Vaguely Right than Exactly Wrong. Radiocarbon Dating and Middle Bronze Age Chronologies. Reply to Sometimes It Is Better to Be Vaguely Right Than Precisely Wrong Gelareh Sadigh Mark E.
Then test your assumptions and learn from them. Indeed determining the value of a business is not a precise exercise. Sometimes side-effects are brought into existence creative ripples and currents that influence things we considered to be unrelatedbut as I said its better to be vaguely right then to be precisely wrong.
Alternative Futures How Its Better to Be Vaguely Right than Exactly Wrong. It is better to be roughly right than precisely wrong. Warren Buffet once quoted the economist John Maynard Keynes I would rather be vaguely right than precisely wrong in describing how he determines the appropriate cash flow measure of a company.
Running endless spreadsheet scenarios just consumes time. It is better to be roughly right than precisely wrong John Maynard Keynes. Idea that sometimes being vaguely right ie mentioning CVT in the broad differential di - agnosis is not only better but also safer than giving a precisely wrong single diagnosis.
Keynes in the form It is better to be roughly right than precisely wrong Logic Deductive and Inductive 1898. Questions to Ask of Any Forecast. John Maynard Keynes the acclaimed economist once stated It is better to be roughly right than precisely wrong I have found this to hold true for business analysis and solution requirements.
They failed Keyness test that it is better to be roughly right than exactly wrong. Despite the age of the quote and misappropriation its sound wisdom for. Adam Gordon writes about strategic foresight and how to do it.
Articles from The British Journal of General Practice are provided here courtesy of Royal College of General Practitioners. First lets assume that vaguely right has more or less same meaning as more or less right andor more or less wrong. It is better to be approximately right than precisely wrong If you are analysing something first create a simple straight forward spreadsheet that gives you some insight into what is going on.
June 3 2015 in Business Valuation Exit Planning by Al Statz. Facing the fear alone cant be taught in an organizational environment. Its better to be approximately right than exactly wrong.
John Maynard Keynes You all have probably heard the story about Malcolm Forbes who once got lost floating for miles in one of his famous. I would rather be vaguely right than precisely wrong John Maynard Keynes. A pharmaceutical company wishes to determine if a new blood pressure medication is more effective than existing medications.
Result rise scenario seen situations social sometimes. It is better to be vaguely right than exactly wrong. The quote is often misappropriated to John Maynard Keynes the more famous economist and early statistician.
But being precise only leaves you to be exactly wrong if anything strays from what is expected. To relate with first assumption we can define exactly as neither less nor more right andor wrong. Saindane American Journal of Roentgenology.
Often wrongly attributed to J. Its Better to Be Vaguely Right Than Exactly Wrong. English philosopher It is better to be vaguely right than exactly wrong.
Smart leaders never let themselves or their teams get caught holding the exactly. Readers should be mindful of the rar-ity of CVT which should account for fewer than 10 cases per year in a very busy teach-ing practice. It may make more sense to forge down a path that feels vaguely right if expectations are managed properly.
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