.@arxivblog #Talent vs #Luck: N=1000 agents w Capital C(t=0) = 10; Talent T_i Є (0,1) w NormDist(0.6,0.1); Period 40y w 500 events, 50% of which r lucky - increase agent i’s capital w prob α 2 Talent T_i; At end, highest capital w agent whose T_i barely above avg! (0.62 vs 0.6) pic.twitter.com/L5IWeuq5PL— Satyen Baindur (@Satyen_Baindur) March 2, 2018
— Satyen Baindur (@Satyen_Baindur) March 2, 2018
One straightforward implication for #Grants disbursing agencies and #Innovation promotion authorities etc - better to widely distribute roughly equal monies transparently, and at outset, rather than 'pick winners' b4hand!— Satyen Baindur (@Satyen_Baindur) March 2, 2018
