Calculated Risks : How to Know When Numbers Deceive You
Language: English
Published by Simon & Schuster, 2003
- Softcover
- Used

Seller: Better World Books: West, Reno, NV, U.S.A.Better World Books: West
AbeBooks seller since March 14, 2016
Condition: Used - Good
£ 5.11
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Pages intact with minimal writing/highlighting. The binding may be loose and creased. Dust jackets/supplements are not included. Stock photo provided. Product includes identifying sticker. Better World Books: Buy Books. Do Good.
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- Title
- Calculated Risks : How to Know When Numbers Deceive You
- Author
- Gigerenzer, Gerd
- Publisher
- Simon & Schuster
- Publication year
- 2003
- Condition
- Good
- Binding
- Soft cover
- Language
- English
- ISBN 10
- 0743254236
- ISBN 13
- 9780743254236
- Item weight
- 0.866 pounds
- Dimensions
- N/A
Cognitive scientist Gerd Gigerenzer says that because we haven't learned statistical thinking, we don't understand risk and uncertainty. In order to assess risk -- everything from the risk of an automobile accident to the certainty or uncertainty of some common medical screening tests -- we need a basic understanding of statistics.
Astonishingly, doctors and lawyers don't understand risk any better than anyone else. Gigerenzer reports a study in which doctors were told the results of breast cancer screenings and then were asked to explain the risks of contracting breast cancer to a woman who received a positive result from a screening. The actual risk was small because the test gives many false positives. But nearly every physician in the study overstated the risk. Yet many people will have to make important health decisions based on such information and the interpretation of that information by their doctors.
Gigerenzer explains that a major obstacle to our understanding of numbers is that we live with an illusion of certainty. Many of us believe that HIV tests, DNA fingerprinting, and the growing number of genetic tests are absolutely certain. But even DNA evidence can produce spurious matches. We cling to our illusion of certainty because the medical industry, insurance companies, investment advisers, and election campaigns have become purveyors of certainty, marketing it like a commodity.
To avoid confusion, says Gigerenzer, we should rely on more understandable representations of risk, such as absolute risks. For example, it is said that a mammography screening reduces the risk of breast cancer by 25 percent. But in absolute risks, that means that out of every 1,000 women who do not participate in screening, 4 will die; while out of 1,000 women who do, 3 will die. A 25 percent risk reduction sounds much more significant than a benefit that 1 out of 1,000 women will reap.
This eye-opening book explains how we can overcome our ignorance of numbers and better understand the risks we may be taking with our money, our health, and our lives.
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Better World Books: West
Reno, NV, U.S.A.
AbeBooks seller since March 14, 2016
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Better World Books is a for-profit, socially conscious business and a global online bookseller that collects and sells new and used books online, matching each purchase with a book donation. Each sale generates funds for literacy and education initiatives in the U.S., the UK, and around the world. Since its launch in 2003, Better World Books has raised over $35 million for libraries and literacy, donated over 38 million books, and reused or recycled more than 475 million books.
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