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Examples
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Each of them greatly over-estimates the value of what he knows.
Intellectual Arrogance, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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Assuredly, we are all fond on a theoretical and nostalgic level of transaction cost theories of basic law&econ, but when the assumption of perfect and symmetrical information is replaced with one where each lawyer over-estimates his probability of success, a perfectly “lubricated” system leads to zero settlements and 100% of cases being litigated.
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There was also a very strong ideological element in the early over-estimates – German nationalists of both the Left and Right needed to establish a dominating narrative that without unity Germany would be constantly invaded and its people slaughtered or enslaved.
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Nate comes to a somewhat similar conclusion, although Nate over-estimates the national Republican "enthusiasm gap" from the early voting due to his misunderstanding of the limitations of the election data he analyzes.
Michael P. McDonald: Does Early Voting Show Republican Enthusiasm? Michael P. McDonald 2010
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Nate comes to a somewhat similar conclusion, although Nate over-estimates the national Republican "enthusiasm gap" from the early voting due to his misunderstanding of the limitations of the election data he analyzes.
Does Early Voting Show Republican Enthusiasm? Michael P. McDonald 2010
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Nate comes to a somewhat similar conclusion, although Nate over-estimates the national Republican "enthusiasm gap" from the early voting due to his misunderstanding of the limitations of the election data he analyzes.
Michael P. McDonald: Does Early Voting Show Republican Enthusiasm? Michael P. McDonald 2010
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Ledeen greatly over-estimates the amount of freedom in the Bushyntine Empire (the former USA), too.
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Assuredly, we are all fond on a theoretical and nostalgic level of transaction cost theories of basic law&econ, but when the assumption of perfect and symmetrical information is replaced with one where each lawyer over-estimates his probability of success, a perfectly “lubricated” system leads to zero settlements and 100% of cases being litigated.
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But just as Teddy Roosevelt is flattered by his presence alongside Washington, Jefferson and Lincoln, so placing Kallis in such lofty batting company over-estimates the impact the South African has had.
The Kallis Conundrum 2009
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But just as Teddy Roosevelt is flattered by his presence alongside Washington, Jefferson and Lincoln, so placing Kallis in such lofty batting company over-estimates the impact the South African has had.
John Terry’s sacking as England captain tells us something interesting... 2009
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