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July 2, 2012

Why Congress Doesn't Work?

Faced with a complex, hard-to-solve problem, there is a natural human tendency to solve a much simpler, easier one instead. Nobel Laureate Daniel Kahneman, in his book,Thinking, Fast and Slow, dubs this cognitive process: “substitution.”


October 12, 2011

Benford's Law


Why the probability of a random number between 1 and 10,000 starting with "1" is greater than starting with "8"? How can this be applied to fraud detection? Below are the links to two interesting readings.