Managing Difficult Decisions in Medicine with the 40-70 Rule
paulsufka.com
paulsufka.com
You're ability to even judge that you have 40 to 70 percent of the information required isn't even a given. In particular, especially with something like medicine, where there is time pressure, bizarre individual circumstances, confounding issues, it can make it difficult to really compress your current state of knowledge into a single value representing percentage of 'known' information.
That said, hilariously if you look at the reproduced slide in the bottom, the blog post and the slide actually say different things.
Colin Powell says to act when you have between a 40 to 70 percent chance of being right given your current state of knowledge/information. The slide says acts when you have 40 to 70 percent of the necessary information.
> Part I: "Use the formula P=40 to 70, in which P stands for the probability of success and the numbers indicate the percentage of information acquired." Part II: "Once the information is in the 40 to 70 range, go with your gut."
So, Powell was actually talking about confidence in success, not percentage of information. Confidence is explicitly an estimate, whereas "percentage of information" is clearly unknowable in the situations being discussed.
The original collection of Powell quotes that included this one is a lot more interesting and valuable than this particular article, IMHO. http://govleaders.org/powell.htm
I had to go to the hospital because of extreme pain. The doctors were pretty sure that I have some kind of auto immune disease which could have been treated with immunsuppressive drugs. They artificially delayed the treatment. If they had started the treatment immediately I would have felt better sooner but also some symptoms which only manifest itself after a certain amount of time would have never been seen. So for a long time we only had a imprecise diagnosis. It would have been enough to treat it but it would have also hidden many symptoms which were needed for a more precise diagnosis.
Especially if you have a chronic disease you want a very precise diagnosis because you will be treated for the rest of your life. If the treatment is not as effective as it could be you will have problems in the long run.
So they gave me very strong pain killers and let me rot for 2 weeks or so. Then the treatment began and it took another 3.5 months once I was released from the hospital.
I am happy that I now have a better near optimal diagnosis.
I mean, it would be one thing to create some kind of simulation and discover that this was actually something statistically meaningful. But there aren't exactly any citations here..
As you noted, if this was something more than that there would be simulations, citations, examples, or really anything, other than feel good puffery.
[1] http://math.stackexchange.com/questions/33227/3-other-extens...
It's a bit like "brainstorming", the strategy of idea generation that has an appealing narrative, but doesn't result in greater creativity when measured objectively.
"40-70 rule" seems like a banal remark once you realize different decisions require different amounts of information