‘Extremely Possible’?

by John Holbo on November 5, 2018

‘Extremely possible’ was probably not the phrase for it. (It seems to have sent Taleb round the twist.)

Silver’s point is to emphasize 85 isn’t 100. But it’s striking how hard it is to say that without sounding like you are saying 85 is 50.

A sort of extremism kicks in that doesn’t seem to manifest in other areas of probabilistic reasoning. 50/50 or 100/0. Look at the polls; see which of those the polls are close to; that’s your answer. Elections: toss-up or lock.

Not black swan blindness, in Taleb’s familiar sense. Nor does anyone make quite this style of mistake when thinking about dice or cards, do they? You might make a baseline rate mistake in interpreting a potentially false positive regarding a medical diagnosis. But if the doc tells you you have a 15% chance of having the flu, no one thinks: oh, from that it follows that I’m 100% healthy. [click to continue…]