Continuing the previous discussion of object bias and conceptions of time…
As a very rough rule of thumb I like to apply a kind of generalized version of Heisenberg’s uncertainty principle:
“the more precisely the position is determined, the less precisely the momentum is known, and conversely…” [via SEP]
Applied to social and economic models, replace “momentum” with any type of progress or change.
The more statistically rigorous we think we understand a market or an organization, the less we know about the human factors surging through it.
When it comes to understanding the human side, the best instrument we have is human judgement and intuition (ironically, how the mind works so well is itself subject to considerable uncertainty).
And conversely, personal impressions and intuitions aren’t enough either; we need hard facts to keep biases and errors in check.
Same with individuals.
The more clearly we think we have someone or something defined, the more attentive we should be to unexpected changes.
It’s really an oscillating process between quantification and qualification: we need hard data and definitions, but those should only guide and discipline our judgement, not determine it.
Bottom line: we have to keep thinking.

