Economics Dictionary of Arguments

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I 22
Statistics/Neyman/Mayer-Schönberger: In 1934, Jerzy Neyman showed that random samples of a set of data to be examined must be selected at random in order to provide representative results. (1)
Mayer-Schönberger: It had been a mistake to believe that random samples should in turn be deliberately selected to be representative.
I 24
Big Data/Mayer-Schönberger: Problem: it is not so easy to create subcategories for random samples. The further one splits up the results, the sooner one gets false predictions.
I 25
If you only look at samples, you cannot ask new questions that were not taken into account from the beginning when selecting the samples.
I 26
Big Data: but if we look at larger amounts of data because the technical means are now available, we do not need any more random samples.

1. Jerzy Neyman, “On the Two Different Aspects of the Representative Method: The Method of Stratified Sampling and the Method of Purposive Selection,” Journal of the Royal Statistical Society 97, no. 4 (1934), pp. 558–625.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

MSchoen I
Viktor Mayer-Schönberger
Big Data: A Revolution That Will Transform How We Live, Work, and Think New York 2013

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