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Price Controls Mean Shortages, Even during Pandemics:
"if Retailer A wants to charge eighty dollars for hand sanitizer, this
creates an opportunity for competitors to charge less. In this case, the
retailer does not suffer from government-imposed fines, but from
consumers who abandon it to purchase from lower-priced ones.
Manufacturers will redirect production to the most profitable and
in-demand products, in this case hand sanitizer."
Friday, July 24, 2020
Wednesday, May 20, 2020
Outliers
As part of an SPS Commerce book club, I found the following notes and quotes interesting from Outliers:
Chapter 1: Mathew effect
25: selection, streaming, and differentiated experience.
Most selected didn't succeed.
33: why don't adjust for age? Because individual success. Really?!?
Chapter 2: 10,000 hour rule
39: no greats practiced less than other greats. No mediocre practiced more than other mediocre.
Should master level be a goal?
Chapter 3: The Trouble with Geniuses, Part 1
86: How far past “good enough” doesn’t affect outcome. Does it affect anything (e.g. study time, number of expertise areas, expectations, stress, etc)?
Having few people like you means less connection with people.
convergence vs. divergence tests
Chapter 4: The Trouble with Geniuses, Part 2
104: poor intimidated by authority
concerned cultivation vs. accomplishment of natural growth (lax intellectually)
Entitlement vs. better behaved, less whiny, more creative with time, independent
105: middle class children adjusted interactions
Is our education of the poor fatally flawed?
Chapter 5: The Three Lessons of Joe Flom
How much of a factor are personal differences?
Chapter 6: Harlen Kentucky
A deeper understanding brings clarity. Is our understanding deep enough?
Chapter 7: The Ethnic Theory of Plane Crashes
184: multiple bad initial conditions plus 7 consecutive errors. Usually teamwork/communication
197: helper must speak up and clearly.
220: change cultural norms for pilots in their 50s.
221: don't avoid talking about group weaknesses.
Chapter 8: Rice Paddies and Math Tests
228: memorize 2 seconds so length of words affects number of digits.
Number names affect ease of math learning
237: if yield highly varies with care, you can't use slave labor. Use fixed rents. Hard work vs. fatalism
246: not ability -- attitude (persistence)
Chapter 9: Marita’s Bargain
More time schooling and don’t stop learning in the summer
Epilogue: A Jamaican Story
Chapter 1: Mathew effect
25: selection, streaming, and differentiated experience.
Most selected didn't succeed.
33: why don't adjust for age? Because individual success. Really?!?
Chapter 2: 10,000 hour rule
39: no greats practiced less than other greats. No mediocre practiced more than other mediocre.
Should master level be a goal?
Chapter 3: The Trouble with Geniuses, Part 1
86: How far past “good enough” doesn’t affect outcome. Does it affect anything (e.g. study time, number of expertise areas, expectations, stress, etc)?
Having few people like you means less connection with people.
convergence vs. divergence tests
Chapter 4: The Trouble with Geniuses, Part 2
104: poor intimidated by authority
concerned cultivation vs. accomplishment of natural growth (lax intellectually)
Entitlement vs. better behaved, less whiny, more creative with time, independent
105: middle class children adjusted interactions
Is our education of the poor fatally flawed?
Chapter 5: The Three Lessons of Joe Flom
How much of a factor are personal differences?
Chapter 6: Harlen Kentucky
A deeper understanding brings clarity. Is our understanding deep enough?
Chapter 7: The Ethnic Theory of Plane Crashes
184: multiple bad initial conditions plus 7 consecutive errors. Usually teamwork/communication
197: helper must speak up and clearly.
220: change cultural norms for pilots in their 50s.
221: don't avoid talking about group weaknesses.
Chapter 8: Rice Paddies and Math Tests
228: memorize 2 seconds so length of words affects number of digits.
Number names affect ease of math learning
237: if yield highly varies with care, you can't use slave labor. Use fixed rents. Hard work vs. fatalism
246: not ability -- attitude (persistence)
Chapter 9: Marita’s Bargain
More time schooling and don’t stop learning in the summer
Epilogue: A Jamaican Story
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