Tag: cognitive bias

The Moral Hazards of Being Beautiful

Mary Pat Campbell

Link: https://www.wsj.com/articles/the-moral-hazards-of-being-beautiful-94346e61

Excerpt:

Beauty has its privileges. Studies reliably show that the most physically attractive among us tend to get more attention from parents, better grades in school, more money at work and more satisfaction from life. A study published in January in the Journal of Economics and Business found that good-looking banking CEOs take in over $1 million more in total compensation, on average, than their lesser-looking peers. “Good looks pay off,” the authors write.

…..

Scientists attribute the human tendency to give attractive people better treatment to something called the halo effect. Basically, we tend to assume that good looks are a sign of intelligence, trustworthiness and good character and that ugliness is similarly more than skin deep. “Personal beauty is a greater recommendation than any letter of reference,” Aristotle observed. This may help explain why attractive people are less likely to be arrested or convicted, even after controlling for criminal involvement, according to a 2019 study of nationally representative data published in the journal Psychiatry, Psychology and Law.

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Yet those of us who never got that genetic golden ticket should take heart: The halo effect appears to go both ways. A number of studies show that goodness often enhances our looks. A paper in PLOS One in February, for example, reports that people found faces in photos more attractive when they learned the subjects were honest, kind and not aggressive. The results suggest that “facial attractiveness is malleable,” the authors write. Or as Sappho observed: “What is beautiful is good and what is good will soon be beautiful.”

Author(s): Emily Bobrow

Publication Date: 10 June 2023

Publication Site: WSJ

Actuarial Modernization Errors

Mary Pat Campbell

Link: https://www.theactuarymagazine.org/actuarial-modernization-errors/

Excerpt:

Professionalization leads us to an interesting dilemma. Actuarial culture and, for that matter, organizational culture got insurance companies to where they are today. If the culture were not moderately successful, then the company would not still exist. But this is where Prospect theory emerges from the shadows. It is human nature not to want to lose the culture that enabled your success. Many people nonetheless thirst for the gains earned by moving in a new direction. Risk aversion further reinforces the stickiness of culture, especially for risk-averse professions and industries. Drawing from author Tony Robbins, you cannot become who you want to be by staying who you currently are. Our professionalization, coupled with our risk aversion, creates a double whammy. Practices appropriate to prior eras have a propensity to be locked in place. Oh, but it gets worse!

By the nature of transformation and modernization, knowledge and know-how are embedded in the current people, processes and systems. The knowledge and know-how must be migrated from the prior technology to modern technology. Just like your computer’s hard drive gets fragmented, so too do firms’ expertise as people change focus, move jobs or leave companies. The long-dated nature of our promises can severely exacerbate the issue. Human knowledge and know-how are not very compressible, unlike biological seeds and eggs. In a time-consuming defragmenting exercise, information, knowledge and know-how must be painstakingly moved, relearned and adapted for the new system. This transformation requires new practices, further exacerbating the shock to the culture. Oh, but it gets even worse!

The transformation process requires existing teams to change, recombine or communicate in new ways. This means their cultures will potentially clash. Lack of trust and bureaucracy are the most significant frictions to collaboration among networks. The direct evidence of this is when project managers vent that teams x, y and z cannot seem to work together. It is because they do not have a reference system to know how to work together.

Author(s): Bryon Robidoux

Publication Date: September 2022

Publication Site: The Actuary

The Few Sentences That Explain Much of What Went Wrong With Our Pandemic Response

Mary Pat Campbell

Link: https://www.theinsight.org/p/the-few-sentences-that-explain-much

Excerpt:

Why did it take so long to accept that SARS-CoV-2 was being transmitted through aerosols, respiratory particles that are small enough to remain suspended in the air, rather than through short-range respiratory droplets that could not travel more than a few feet because of their (bigger) size?

The reasons for this delay go back more than a century, to the fight against (incorrect but prevalent) theories that blame miasma—noxious odors, especially from rotting organic material—for diseases. While trying to counter erroneous but millenia-long folk-beliefs, some of the founders of public health and the field of infectious control of diseases around the world made key errors and conflations around the turn of the 20th century. These errors essentially froze into tradition and dogma that went unchanged and uncorrected for more than a century, until a pandemic forced our hand.

Author(s): Zeynep Tufekci

Publication Date: 7 May 2021

Publication Site: Insight at substack

Why Did It Take So Long to Accept the Facts About Covid?

Mary Pat Campbell

Link: https://www.nytimes.com/2021/05/07/opinion/coronavirus-airborne-transmission.html

Excerpt:

But clear evidence doesn’t easily overturn tradition or overcome entrenched feelings and egos. John Snow, often credited as the first scientific epidemiologist, showed that a contaminated well was responsible for a 1854 London cholera epidemic by removing the suspected pump’s handle and documenting how the cases plummeted afterward. Many other scientists and officials wouldn’t believe him for 12 years, when the link to a water source showed up again and became harder to deny. (He died years earlier.)

Similarly, when the Hungarian physician Ignaz Semmelweis realized the importance of washing hands to protect patients, he lost his job and was widely condemned by disbelieving colleagues. He wasn’t always the most tactful communicator, and his colleagues resented his brash implication that they were harming their patients (even though they were). These doctors continued to kill their patients through cross-contamination for decades, despite clear evidence showing how death rates had plummeted in the few wards where midwives and Dr. Semmelweis had succeeded in introducing routine hand hygiene. He ultimately died of an infected wound.

Author(s): Zeynep Tufekci

Publication Date: 7 May 2021

Publication Site: New York Times

Public Health Lessons Learned From Biases in Coronavirus Mortality Overestimation

Mary Pat Campbell

Link: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7511835/

Graphic:

Abstract:

In testimony before US Congress on March 11, 2020, members of the House Oversight and Reform Committee were informed that estimated mortality for the novel coronavirus was 10-times higher than for seasonal influenza. Additional evidence, however, suggests the validity of this estimation could benefit from vetting for biases and miscalculations. The main objective of this article is to critically appraise the coronavirus mortality estimation presented to Congress. Informational texts from the World Health Organization and the Centers for Disease Control and Prevention are compared with coronavirus mortality calculations in Congressional testimony. Results of this critical appraisal reveal information bias and selection bias in coronavirus mortality overestimation, most likely caused by misclassifying an influenza infection fatality rate as a case fatality rate. Public health lessons learned for future infectious disease pandemics include: safeguarding against research biases that may underestimate or overestimate an associated risk of disease and mortality; reassessing the ethics of fear-based public health campaigns; and providing full public disclosure of adverse effects from severe mitigation measures to contain viral transmission.

Author(s): Ronald B. Brown

Publication Date: 12 August 2020

Publication Site: Cambridge University Press Public Health Emergency Collection