The Book of Odds: Helping to make better decisions?

Via Freakonomics, a new website was introduced called the Book of Odds.  It is a dictionary for any probability you could possibly imagine categorized by numerous life events such as accidents and death or relationships and society.  Even better, you can narrow down your demographic!  In fact, it may be a great tool for figuring out what career you would have the best chance at getting.  The probability of someone 16 or older that could become an economist is 1 out of 10,730 while to become a head chef is 1 in 1,379. What am I thinking, considering that the odds are against me! Well, I suppose that since 1 out of 5.82 people end up in some office or administrative role, (mine being in economics anyways) I did pretty well. To be exact, what I really do is an analyst; the odds of someone getting my job is 1 in 252. Double that for a financial analyst at 1 in 571.

Considering that I am evaluating what health plan I should get, high deductible savings plan or the traditional high premium plan, maybe the book of odds will let people become their own actuaries and let them evaluate how much their health plans really are worth! The book of odds: taking down the barriers of asymmetrical information, one odd at a time.


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