Maths And Science Flashcards
Multiplicative system
Power of multiplying by zero
System is no longer stronger than part of system
There is a difference between additive and multiplicative system
In additive system each components add on to each other to reach or derive final outcome.
Most business operates in an multiplicative system but they do think they act in additive system.
Eg.mist business can’t be success full if thy can provide good customer service irrespective of their investment in product quality.
Even in investment world it doesn’t matter how good a company u can’t make superior return if I ended up paying too much price.
U have to decide when u
Multiplicative system
Power of multiplying by zero
System is no longer stronger than part of system
There is a difference between additive and multiplicative system
In additive system each components add on to each other to reach or derive final outcome.
Most business operates in an multiplicative system but they do think they act in additive system.
Eg.mist business can’t be success full if thy can provide good customer service irrespective of their investment in product quality.
Even in investment world it doesn’t matter how good a company u can’t make superior return if I ended up paying too much price.
U have to decide when u
Bayes theorem
Take the odd of something happening (prob)
And adjust for new info
We SHLD not fail to adjust probability to reflect new information.
We tend to either dismiss new info /evidences or embrace it as though nothing matters.
Bayesian try to weigh both the old and new info in sensible way
Gresham law
Bad drives out the good as time passes.
Some forms of human behaviour survives bcz it has competitive age over other.
Self interested groups naturally tend towards what works so bad drives out good if it causes superior practical results.
When bad behaviour taken root and it has survival advantage over good behaviour it become difficult to drive bad behaviour.
One practical application is to avoid becoming part of such systems.
