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  1. 02-22-2011 #1
    Presley Cannady
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    Quote Originally Posted by selil View Post
    My example is of ONE economist and ONE theory that I think explains quite well a lot of things. Vilfredo Pareto and the 80/20 rule or Pareto principle. Not only statistically relevant (think sigma) it is relevant to daily life and significant in explaining many things from software to kids grades.
    The Pareto "principle" was a crude, snapshot observation--which predicts nothing (even in "Pareto" distributed income clusters. The subsequent Pareto distribution, which by itself is nothing more than math, predicts nothing and is a special case of a family of related functions. Pareto didn't even derive it himself.
    PH Cannady
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  2. 02-23-2011 #2
    selil
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    Quote Originally Posted by Presley Cannady View Post
    The Pareto "principle" was a crude, snapshot observation--which predicts nothing (even in "Pareto" distributed income clusters. The subsequent Pareto distribution, which by itself is nothing more than math, predicts nothing and is a special case of a family of related functions. Pareto didn't even derive it himself.
    Well I guess we're done here. Good luck with that.
    Sam Liles
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