I claim that my brain frequently produces narrative satisfaction long before the story’s really over, causing me to think I’ve understood when I really haven’t.
When you use the phrase Value of Information, are you drawing from any particular definition or framework? Are you using the straightforward concept of placing value on having the information?
Not sure if you were asking me, but … I mean VOI in terms of “do some form of actual math or pseudomath to determine whether you genuinely expect further investigation to be worth the time.” Sort of the … layman’s technical sense of the term? Like, I’m not an economist or a mathematician, but my understanding and use of the term came from economics and math.
Thanks. That answers my question; seeing VOI capitalised and immediately acronymed made me think that it might be a Named Concept.
When you’re thinking about whether to keep pulling on the thread of inquiry, do you actually write down any pseudomath or do you decide by feeling? Sometimes, I think through some pseudomath, but I wonder whether it might be worth recording that information, or if thinking on paper would produce better results than thinking “out-loud.”
I usually do something akin to “rubber ducking.” I don’t necessarily write it down, but I say it, out loud, in complete and coherent sentences as if talking to a real person. Disciplining myself to do that causes me to put things in explicit, sensible order, and if I try to put things in order and find that I can’t, that’s a good flag that I need to clear up some sort of confusion.
Often I do this with some kind of currency exchange—like, I’ll try to quantify both the additional information and the time and effort I’m spending on it in a common unit so that it’s not hard to do comparisons.
Agreed. In the article, Conor says
When you use the phrase Value of Information, are you drawing from any particular definition or framework? Are you using the straightforward concept of placing value on having the information?
Value of information is a named concept from decision analysis. See: Wikipedia and previous LW discussion.
Not sure if you were asking me, but … I mean VOI in terms of “do some form of actual math or pseudomath to determine whether you genuinely expect further investigation to be worth the time.” Sort of the … layman’s technical sense of the term? Like, I’m not an economist or a mathematician, but my understanding and use of the term came from economics and math.
Thanks. That answers my question; seeing VOI capitalised and immediately acronymed made me think that it might be a Named Concept.
When you’re thinking about whether to keep pulling on the thread of inquiry, do you actually write down any pseudomath or do you decide by feeling? Sometimes, I think through some pseudomath, but I wonder whether it might be worth recording that information, or if thinking on paper would produce better results than thinking “out-loud.”
I usually do something akin to “rubber ducking.” I don’t necessarily write it down, but I say it, out loud, in complete and coherent sentences as if talking to a real person. Disciplining myself to do that causes me to put things in explicit, sensible order, and if I try to put things in order and find that I can’t, that’s a good flag that I need to clear up some sort of confusion.
Often I do this with some kind of currency exchange—like, I’ll try to quantify both the additional information and the time and effort I’m spending on it in a common unit so that it’s not hard to do comparisons.