Relative estimation in 5 minutes
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The document discusses relative estimation versus absolute estimation. It notes that people are bad at absolute estimation but good at relative estimation when provided an "anchor" for comparison. It provides an example of estimating the value of a house, where providing different anchor values of $100k and $900k would likely result in very different estimates. The document is about a 5 minute presentation on relative estimation given by Stijn Decneut.
Relative estimation in 5 minutes
- 1. @iLean_be Relative Estimation in 5 minutes Stijn Decneut stijn@ilean.be
- 7. @iLean_be We are bad at absolute estimation We are good at relative estimation Dive into Anchors
- 8. @iLean_be Theres a reason for this
- 9. @iLean_be We need an anchor to compare
- 10. @iLean_be No anchor: unreliable estimation Bad anchor: biased estimation Back
- 11. @iLean_be Of course I ignore irrelevant numbers
- 12. @iLean_be Expert advice: value of this house? Id like 100k Id like 900k
- 13. @iLean_be Which road did you take to work? 30 120
- 14. @iLean_be Relative Estimation This was ... Stijn Decneut stijn@ilean.be in 5 minutes