EFTA02664522.pdf

From: Joi ito < Sent: Wednesday, May 16, 2018 3:23 PM To: Jeffrey Epstein Subject: Re: Researchers can't evaluate novel ideas What time zone are you in? Can you talk at 1PM ET? > On May 16, 2018, at 10:35, jeffrey E. [email protected]> wrote: > can talk when you like > On Wed, May 16, 2018 at 1:19 PM Joi ito <-> wrote: > https://pubsonline.informs.org/doi/abs/10.1287/mnsc.2015.228S > Looking Across and Looking Beyond the Knowledge Frontier: Intellectual > =istance, Novelty, and Resource Allocation in Science > Selecting among alternative projects is a core management task in all =nnovating organizations. In this paper, we focus on the evaluation of =rontier scientific research projects. We argue that the "intellec=ual distance" between the knowledge embodied in research =roposals and an evaluator's own expertise systematically =elates to the evaluations given. To estimate relationships, we designed =nd executed a grant proposal process at a leading research university =n which we randomized the assignment of evaluators and proposals to =enerate 2,130 evaluator—proposal pairs. We find that evaluators =ystematically give lower scores to research proposals that are closer =o their own areas of expertise and to those that are highly novel. The =atterns are consistent with biases associated with boundedly rational =valuation of new ideas. The patterns are inconsistent with intellectual =istance simply contributing "noise" or being associated =ith private interests of evaluators. We discuss implications for =olicy, managerial intervention, and allocation of resources in the =ngoing accumulation of scientific knowledge. please note > The information contained in this communication is confidential, may > be attorney-client privileged, may constitute inside information, and > is intended only for the use of the addressee. It is the property of > JEE Unauthorized use, disclosure or copying of this communication or > any part thereof is strictly prohibited and may be unlawful. If you > have received this communication in error, please notify us > immediately by return e-mail or by e-mail to [email protected], > and destroy this communication and all copies thereof, including all > attachments. copyright -all rights reserved <?xml version=.0" encoding=TF-8"?> <IDOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/Propertylist-1.0.dtd"> <plist version=.0"> <dict> <key>conversation-id</key> <integer>6427</integer> EFTA_R1_01914437 EFTA02664522  <key>date-last-yiewed</key> <integer>0</integer> <key>date-received</key> <integer>1526484186</integer> <key>flags</key> <integer>8590195717</integer> <key>gmail-label-ids</key> <array> <integer>6</integer> <integer>2</integer> </array> <key>remote-id</key> <string>821771</string> </dict> </plist> 2 EFTA_R1_01914438 EFTA02664523