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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]
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]
Anthem Blue Cross Blue Shield planned to cap anesthesia coverage in NY, CT, and MO. The American Society of Anesthesiologists called for a reversal.
Illusory truth effect (Illusion-of-truth effect) People are more likely to identify as true statements those they have previously heard (even if they cannot consciously remember having heard them), regardless of the actual validity of the statement. In other words, a person is more likely to believe a familiar statement than an unfamiliar one.
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 ...
The television industry won’t waste any time when it comes to getting back to work following the end of the SAG-AFTRA strike. With a focus on broadcast shows, prep and pre-production are well ...
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 ...
The key takeaway from the recent quarter and commentary on the earnings call was that the company's turnaround will take longer than expected, and its near-term results will be weak. There's also ...