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Hofstadter's law is a self-referential adage, coined by Douglas Hofstadter in his book Gödel, Escher, Bach: An Eternal Golden Braid (1979) to describe the widely experienced difficulty of accurately estimating the time it will take to complete tasks of substantial complexity: [1] [2]
The Sydney Opera House was expected to be completed in 1963. A scaled-down version opened in 1973, a decade later. The original cost was estimated at $7 million, but its delayed completion led to a cost of $102 million. [10] The Eurofighter Typhoon defense project took six years longer than expected, with an overrun cost of 8 billion euros. [10]
In econometrics, the estimate of the effect of one thing on another (say, the estimate of the effect of the minimum wage upon employment decisions) is said to be "biased" if the technique that was used to obtain the estimate has the effect that, a priori, the expected value of the estimated effect differs from the true effect, whatever the ...
Fed Chair Jerome Powell signaled that it will likely take longer to cut rates, saying it will take 'longer than expected' to achieve the confidence needed to get inflation down to the central bank ...
Thus, the Lindy effect proposes the longer a period something has survived to exist or be used in the present, the longer its remaining life expectancy. Longevity implies a resistance to change, obsolescence, or competition, and greater odds of continued existence into the future. [2] Where the Lindy effect applies, mortality rate decreases ...
In a 6-3 decision released on Friday, the court ruled that the word “and” means “and”, not “or”, in a complicated case that challenged justices to interpret grammar and the intention ...
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if an event (whose occurrences are independent and identically distributed) has occurred less frequently than expected, it is more likely to happen again in the future (or vice versa).
synergistic (combining the drugs leads to a larger effect than expected), or; antagonistic (combining the drugs leads to a smaller effect than expected). [3] It may be difficult to distinguish between synergistic or additive interactions, as individual effects of drugs may vary.